In his Magnum Opus , Capital and Ideology , Thomas Piketty argues that rising inequality is explained by politics, not economics. He proposes that to alleviate this rising inequality, radical solutions are required to reverse this systemic trend. In normative terms, Piketty states that modern society should create a new “par-ticipatory socialism” in which capitalism is gradually abolished through two main avenues: 1) a progressive income tax, and 2) a tax on inherited wealth. These…