"Inequality cannot be reduced with one instrument alone."
Fabio de Masi comments on the launch of our wealth simulator.
BYFORUM NEW ECONOMY
PUBLISHED16. NOVEMBER 2023
What is the actual state of inequality in Germany? For a long time, there was no or incomplete data on this. The ReBalance Wealth Simulator makes it possible for the first time to map the extent to which instruments like a start up capital or an inheritance tax would contribute to reducing wealth inequality in Germany over a long-term period. It was developed in an intensive steering process together with a group of researchers led by Timm Bönke and Charlotte Bartels of DIW Berlin.
At the launch of the simulator on 10 November in Berlin, we spoke to former Left Party MP Fabio de Masi about the importance of having a reliable data base for policy work and reducing inequality. Fabio de Masi explains why excessive inequality is detrimental to democracy and why he believes that one tool alone will never be enough to reduce wealth inequality. He discusses second-round effects, missing data on high net worth individuals and the political feasibility of basic inheritance.