Globalization has made the world a more equal place, lifting the economic fortunes of billions of poor people over the last quarter century. Here's the rub: At the same time, it has made richer countries more unequal—squeezing the incomes of the poor and the middle class.
"I think we have a political problem. At some point, the middle classes in rich countries could turn against globalization," says Mr. Piketty. A world order in which a majority of people benefits—but an influential minority doesn't—may not be sustainable for long.
Read the full article on The Wall Street Journal: Looking at a two-track future