international business
Instructions
Please listen to the interview to Prof. Thomas Piketty in the YouTube video below and answer the following question:"What is the role of global business in facing/fighting inequality at the global level? Can you provide an example of your favorite business case?"youtube: https://www.youtube.com/watch?v=X6frECZhxJA
Answer
Capitalism is where capital keeps one rich and allows them to govern the world. Thomas Picketty argues that everyone has mobility and can be self-made. Also, it is okay to have a bit of inequality since all of us cant be equal but the most important thing is to have the mobility of all social classes rising at the same speed according to the growth rate of the total economy. the problem is when others especially the high class are rising three to four times faster than the size of the world economy. Taking the case of Russia where there are many billionaires who are capable of influencing the political process and their mobility is high. However, the government doesnt benefit from this billionaires because of the tax system. Progressive taxation should be introduced where those with more a...
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