In Section 2.3a, Milanovic asks why 20th century policy tools can’t be used to address 21st century income inequality.
What were the 20th century policies that he cites?
Why, in the face of globalization and the rising share of capital in GDP, is the 20th century welfare state difficult to maintain?
What does “deconcentration of capital ownership” mean? Why is this considered to be key in addressing perniciously increasing income inequality? What would be some of the policies that would need to be enacted?