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states are faced with a big challenge; that is ,facing the big challenge of
decoloniality. Mignalo says that decoloniality is a revolutionary process which
requires epistemological endeavours that negate modern power structures and
imagine a global future where no one speaks the language of power and
domination.
5: Capital in the 21st century Thomas Piketty
Thomas pikettyPiketty, a French economist, has penned a book titled capital. He
argues for progressive taxation and a global wealth tax as the only way to challenge
the inclination towards the creation of what pikkety Pikkety calls a patrimonial form
of capitalism. He says that the main features of capitalism are inequalities of
wealth and income. He explains how social inequality of wealth and income
unfolded over the last two centuries, with specific stress on the role of wealth. He
disrupts the popular view that liberal economy unfurls the wealth around and that it
is the essential stockade for the shielding of individual liberties and freedoms. He
then shows that liberal economy constructs undemocratic oligarchies.
undoubtedlyUndoubtedly, pikettys Pikettys powerful argument has caused liberal
outrage worldwide.