The Great Recession is over.
The economy’s recovered.
The stock market’s booming.
Has your paycheck gotten bigger? Do you even have a job?
The economy’s changing. French economist Thomas Piketty in “Capital in the 21st Century” argues the economy’s reverting to its natural state, the state of gross inequality.
Piketty predicts Europe and the U.S. will return to a 19th-century economic landscape, in which one to 10% of the population own 80% of the wealth.
Upward mobility will drastically shrink.
It’s already happening. A college education doesn’t guarantee financial success, anymore. College graduates are saddled with crippling debt and low-wage jobs at Starbucks.
To understand why this is happening, see the next page.