In his book “Capital in the Twenty-First Century”, the French economist Thomas Piketty gives a stunning demonstration of how capital has become concentrated in the hands of a few and grown faster than the economy, except during the 30 years of post-war growth. This trend has inevitably made the rich even richer and caused the inequality gap to widen. Labour has thus become a casualty of capital. Piketty is fascinating. I had the occasion to be a modest participant at his side in a discussion at the University of Brussels. Ever since, the conviction that I had met one of the most brilliant political economists of our time has never left me.
Regulatory scrutiny obliges banks to re-validate existing clients. Done right, it leads to better customer data and less fraud – but done wrong, it can…Download whitepaper