Phillip W. Magness

U.S. Economic & Political History

Hayek anticipated Piketty by 60 years

| May 9, 2015

This morning I came across the following passage from an article¬†that F.A. Hayek published in 1956, entitled “Progressive Taxation Reconsidered.” Their content struck me as particularly prescient, as they directly anticipated both the punitive dimensions of Piketty’s wealth tax proposal, and the vulnerability of progressive income taxation to political capture. As Hayek writes: “With scales […]