Piketty: "The greatest inequality causes unemployment"

Begins to be getting tired of the nickname of rock star that he attributed the American media when he traveled to that country to present their book -the capital in the twenty-first century-. But it is hard to imagine any other european economist that lead the lists of sales with a academic work that is so deeply and causing similar euphoria wherever he goes. "In reality, the success of the book reveals the need for greater democratization of the economic debate, to allow the people form their opinion and to incorporate this debate the issues that really matter to the people," says Thomas Piketty (Clichy, 1971). A success not exempt from severe criticism from the more important international media. "The truth is that the same people who have criticized my work have given me a prize for best book of the year. I couldn't ask for more," he says with a smile.

The French author has visited Madrid this week, to promote the Spanish edition of his book, with an agenda really media star. There were no minutes or hollow enough in the day to handle the volume of requests for workshops, meetings and interviews of all types that had raised their visit, which has reserved a hollow stressed the political world. Not in vain, he was an adviser to the campaign of the socialist candidate Segolene Royal in the elections to the presidency of France in 2007. Has been the own Piketty who had an interest in meeting with those responsible for We Can during his visit to Madrid to prevent its discussion with the secretary general of the PSOE, Pedro Sanchez, were interpreted as an adherence to the tenets of the Spanish socialists. "I like listening to all the proposals. I would have liked to meet with someone from the Government, but have shown no interest," he explains.

The French economist argues that throughout history, and even more in recent years, the performance of capital has been higher than the growth of the economy and that, therefore, those who initially had that capital - in the form of real estate, inheritance or heritage- benefited the most of the growth that those who depended on their work. A mathematical formula that has been revealed in all its starkness with the crisis and that has aroused the anger of the middle classes, who feel the pagan of the crisis, hard hit by the austerity policies, the cut of the services and tax hikes but that in practice it is not so simple. "It is true that the case of Europe is not exactly the same as that of the United States. The movement we are 99% makes more sense there, or in places such as London, because the weight of the financial sector and capital in the economy is much greater. In Europe, the largest source of inequality comes from the unemployment," admits the economist.

Piketty published its work [originally in French in 2013] just when it began to see some light at the end of the crisis, and when the data began to reflect levels of income disparity between the more developed countries not seen since the end of the First World War. The debate on inequality already started to take force in the United States and was, precisely, the enormous impact of his book in that country, already in 2014, the one who shot the popularity of Piketty and the enormous popularity of his work. "I am even more surprised by the reception that has had the book in China or Korea, it really has impressed me," she admits.

Also the professor of the Paris School of Economics is especially critical with the handling of the crisis in Europe, from the austerity policies applied to the modification of the European Treaties adopted in 2012 and tax competition between the countries of the eurozone that has revealed the scandal of the Luxleaks. "If the whole world do what you have done Luxembourg and virtually eliminates the taxation of large companies, the whole of Europe will become a tax haven," he stressed. "I think that we should move toward a greater tax cooperation, as a first step, starting with the harmonization of business taxation", defends. Even more. "The policies of austerity, the commitment to reduce the deficit to full speed, the increase in unemployment and the absence of inflation also makes it much more difficult to get out of the crisis," Renata.

Despite what the European experience demonstrates, Piketty is optimistic about the possibility of a greater tax coordination in the region and believes that with incentives or sanctions appropriate changes are possible. "Didn't seem to able to put an end to the Swiss banking secrecy and today that is a reality. United States imposed sanctions on the swiss banks that had contributed to hide tax information of its citizens and the bank secrecy is over," he recalls. "The things you can always change".