Piketty's Relentless Wealth Gap Need Not Be So Relentless

Eduardo Porter picks up on the fashion book of the week, Thomas Piketty's Capital in the 21st Century. The punchline, which Porter accurately conveys, is that we are on a path of ever greater concentration of wealth and income. Piketty's isn't happy about this and recommends wealth and inheritance taxes as remedies, but since these taxes don't sound very likely, the picture looks pretty bleak.

While the book has much useful information and is well worth reading, folks can feel justified in ta...