The politically convenient but largely bogus Unified Economic Theory of Modern Liberalism

(Mike Agliolo/Corbis)

Here’s some good news for America’s 99.99 percent: We probably aren’t destined to wage slave our way through a nightmarish Downton Abbey- meets- Elysium dystopia where all the wealth is owned by the lay-about scions of today’s Silicon Valley and Wall Street elite.

Indeed, inequality alarmist Thomas Piketty, author of the best-selling (though lightly read) Capital in the Twenty-First Century , is pulling back from his strong claim that the super-rich are going to get ever and always super-richer and super-richer. "An endless inegalitarian spiral," as he puts it. And that ought to be good news for all of […]