review of Mervyn King review of Piketty

"...This is akin to my own reading of the inequality story. We have greater within country inequality as an almost inevitable consequence of globalisation. That same globalisation leading to ever reducing global inequality. So to call increased incountry inequality some inevitable part of capitalism as Piketty does seems a little strange. For it might well be an inevitable property of globalisation but not of capitalism. And, as ever, if we blame something on the wrong cause then we’ll take action to solve the wrong thing. For example, whether we used capitalism or socialism to extend globalisation we might still see that rise in inequality. So blaming capitalism, trying to fix capitalism so the inequality doesn’t occur, would be useless if our still increasing globalisation kept increasing that inequality."