Today's Big Stories

'Thomas Piketty has done his homework on economic transformation'

Renowned French economist Thomas Piketty has proposed an annual, low-rate wealth tax and a minimum wage to start correcting the “disturbing” rise in inequality in South Africa since the end of apartheid.

702's John Robbie spoke to Xhanti Payi, a business reporter and researcher at Nascence Research, about Piketty's views on economic transparency, expressed during the 13th annual Nelson Mandela lecture at the University of Johannesburg at the weekend.

Listen to the full conversation below:

(Also read our article: Most Influential Book of 2014 - Capital in the Twenty-First Century)

Piketty has called for more transparency and a progressive tax regime to deal with poverty.

The controversial author has been criticised by colleagues in the global community, for what some call "radical views on economic transformation".

According to Payi, Piketty has solidified his credibility by analysing centuries of data.

The research is in his favour, he has delved into centuries of data to explore the problem of inequality. The data backs up his work and trends.

Xhanti Payi, business reporter
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