Talk with the Master--the Famous Economy Lecture of Maxdo:Capital in the 21st Century
On November the 15th 2014,Thomas Piketty,the famous French economist,who is also known for his masterpiece:Capital in the 21st Century,gave afantastic speech the Famous Economy Lecture of Maxdo:Capital in the 21st Century at the Jingwen lecture hall of BNU.And the activity was held by BNU Business School ,BNU Maxdo College,China Citic Press and Citic Academy.Secretary of the Party committee of BNU Liu Chuansheng,vice-principal Chen Guangju,Secretary of the Party committee of School of Foreign Languages and Literature Lin Hong,vice-division chief of Ministry of Education Xia Min,vice-president of BNU Business School Qu Ruxiao were presented.Media and over 400 students also attend the lecture,which made the hall fully occupied.The lecture was hosted by Lai Desheng,the president of BNU Business School.Meanwhile, Li Shi,a professor from BNU Business School,and the executive director of China Institute For Income Distribution was the comment guest.
Firstly,the president Lai Desheng gave a warm welcome to professor Piketty,and made a brief introduction about the book Capital in the 21st Century.The book provides deep research based on statistics of income wealth in Europe and USA over the past three centuries.Meanwhile,professor Piketty analyzes the evolution progress of income distribution in different historical stages and provides a simplified analysis to the souring property inequality problem in the book.
Because of the pioneering work in property and income distribution,Mr.Piketty was appointed as guest professor of BNU, and the Secretary of the Party committee of BNU Liu Chuansheng delivered the letter.
Then,professor Piketty shared his work with the audience.After analyzing historical statistics from over 20 countries with co-workers,he pointed out that the income gap is widening.For example,the widening income gap in the USA led to unequal resource distribution.Low-income people could not receive high-quality education which widened the gap in return,leading to a vicious circle.Additionally,professor Piketty warned us to focus on the expanding global wealth gap.In his opinion,the best solution to the unequal distribution of global wealth was to set the progressive tax around the world based on the.bank independent transaction information.
Due to the incompleteness of related data in China,professor Piketty failed to provide a systematic analysis on the overall situation of China.According to what were available,China didn’t seem to have serious inequity on income distribution.However, he emphasized that this might be affected by the way of collecting data.Based on the household survey,we might underestimate the inequity.So actually,we didn’t know the real situation of income inequity in China.Professor Piketty said that a more complete taxation system ought to be established to narrow the income gap.What’s more,he suggested Chinese government to establish a transparent fiscal and taxation system as well as an open information platform.
After the speech,professor Li made comments.On the one hand,he agreed with the basic point in the book.On the other hand,he thought that simply raising the property tax or individual income tax rate is far from enough to solve the problem,say income inequity,in China.The same problem was formed differently,thus the region differences between the rural and urban areas,our social system and development stage should also be taken into consideration.What’s more,income mobility should not be ignored in research.
At the end of the lecture,audience asked questions like the impact of globalization and population mobility on wealth inequity,why choosing the top 1% people who had the highest income as subject,etc.Vice-principal Cheng Guangju sent meaningful gift to Mr Piketty on behalf of the university to express gratitude.And the audience just couldn’t wait to get an autograph on their new book:Capital in the 21st Century.