Taiwan Tati Cultural and Educational Foundation

While it is inevitable that incumbent officials have more advantages than their rivals when it comes to campaigning, the amount of resources the Chinese Nationalist Party (KMT) government is throwing into its nominees’ campaigns in the Nov. 29 nine-in-one elections is still astonishing.

In Taiwan or elsewhere in the world, incumbent candidates are typically able to promote themselves through advertisements paid for by the government, and this is usually a gray area that can be tolerated by most people. However, the actions of the KMT in the Taipei mayoral race have gone far beyond the boundaries of this tacit consent.

French economist Thomas Piketty’s book Capital in the Twenty-First Century has received rave reviews, with some calling it a masterpiece that might change global capitalism in the 21st century.

The main idea expressed in Piketty’s book is that economic growth represents the rate at which the average wealth of society as a whole increases and that return on capital represents the average rate of increase in capital wealth. If the government allows the rate of return on capital to remain higher than the economic growth rate, the wealth of capitalists grows faster than the average.