Watch Kevin O’Leary blow a gasket over Thomas Piketty’s “insane” ideas
Kevin O’Leary, co-host of CBC’s Lang & O’Leary Exchange and “Mr. Wonderful” on CBS’s Shark Tank, thinks the ideas of world renowned economist Thomas Piketty about inequality and capitalism are “insane” and “evil.” Here’s the crux of Piketty’s seminal book, Capital in the Twenty First Century: When the rate of return on capital exceeds the rate […]
Kevin O’Leary, co-host of CBC’s Lang & O’Leary Exchange and “Mr. Wonderful” on CBS’s Shark Tank, thinks the ideas of world renowned economist Thomas Piketty about inequality and capitalism are “insane” and “evil.”
Here’s the crux of Piketty’s seminal book, Capital in the Twenty First Century:
When the rate of return on capital exceeds the rate of growth of output and income, as it did in the nineteenth century and seems quite likely to do again in the twenty-first, capitalism automatically generates arbitrary and unsustainable inequalities that radically undermine the meritocratic values on which democratic societies are based.
“So what?,” snapped O’Leary to co-host Amanda Lang on Thursday, comparing progressive taxation to the former Soviet Union and North Korea.
This is the same guy who, just a few months ago, said “it’s fantastic” that the 85 richest people on the planet have as much wealth as the poorest 3.5 billion people (or half the world’s population.)
Watch O’Leary’s latest outburst:
Photo: YouTube
Help us protect Canadians by holding the powerful accountable.
Journalism is an important public service. That’s why PressProgress is prioritizing stories aimed at keeping Canadians safe and holding the powerful accountable during the coronavirus pandemic.
Please consider supporting our award-winning non-profit news organization so we can keep making a positive impact for Canadians.
Support Our Journalism
