A Brief History of Equality

A Brief History of Equality by Thomas Piketty, translated by Steven Rendall

Piketty sees the world as moving towards a state of more equality, using the definition he gives. The argument is filled with contradictions and redefinitions. There are various ideas that make sense, but are not carried out well. Including negative externalities in calculation of wealth seems like a smart move, but it becomes challenging in practice. Equality across different groups seems like a noble goal, but how far do you go in defining groups. Is equality a good thing? There is conflict between equality and freedom. People are richer with more material possessions, but are they happier? If what matters is relative difference, wouldn't equality just make everyone feel "blah"? The author is an advocate of reparations. Would these benefit the people paying or the people receiving? He gives the example of "reversing" the suffering of Haiti by returning payments made to France. Would you also make Russia pay back payments made by Finland? What about Germany's payments after World War I? Making payments can encourage thrift and hard work. Receiving payments can end up causing harm and hurting the economy. (Even in rich economies, natural resource abundance can have negative impacts. Would loads of cash in previously disadvantaged groups result in short term boost of "others" and along term negative for the community impacted? You don't often hear of dynasties started with lottery winnings.) 

The author also criticizes the conservatism and slow change of current institutions. A drastic change would be a preferred way to launch communism. Alas, the track record of this has not been good. If we enable more dramatic changes, what is to say it would happen to the left? Trump is an example of taking power to change in the opposite direction.

Cause and effect are also uncertain. Does equality lead to economic growth? Or does growth provide the ability to provide more societal benefits for all? What is the end goal for growth and equality?