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A global wealth tax should pay for climate reparation, leading French economist Thomas Piketty has said. Piketty, who co-authored a paper suggesting that India should impose a wealth tax on the ultra-rich to tackle inequality and create fiscal space for investments in the social sector, told ET's Deepshikha Sikarwar in an interview that he expects India to take the lead to solve not just its problem but also that of the rest of the world. Edited Excerpts: How do you view the G20 declaration on effectively taxing ultra-high-net-worth individuals in the backdrop of issues you have been raising? I regret that India has not been pushing with Brazil for this global tax on billionaires and it's a pity because India needs more tax justice. But the rest of the world also needs India to participate in this discussion now. When I wrote 'Capital in the 21st century' and published it 10 years ago proposing a global wealth tax, everyone said this will never happen. Now, when I see that the G20 governments were seriously discussing the global wealth tax, this makes me feel that things can change. I count on a lot of countries from the Global South to push in this direction because I think global wealth tax is not just a way to help each country tax its own billionaires, it's also a way to redistribute the tax revenues all over the world.I think countries like India and more generally, countries in the Global South are going to suffer enormously from climate change. We live in an era where the issue of climate reparation and of course colonial reparations are sort of mixed. But just the climate reparation itself is a very big issue and I think a global wealth tax should also be a way to pay for that. The bottom line is the minimal tax on billionaires should generate revenue that should then be distributed to all countries, not in proportion to their number of billionaires, but in proportion to their population and exposure to climate change.Is this an easy or a simple discussion to have? No, this is going to be a very complicated discussion. But I think in the end if the countries in the Global South push in this direction, this can change the global distribution of power. I'm expecting a lot from India not just to solve the problem of India, but also to help the rest of the world solve the problem of the world. How is technology, especially AI, going to impact intra-country and cross-country inequality? If we do it by privatising knowledge, by privatising basically all the information that has been produced by humans in books, articles and making it a new territory for private appropriation, it would be catastrophic in terms of inequality. This is a little bit of what's being done now.The kind of application we are talking about for AI are all driven by the desire to create sort of new private property rights on things which have been publicly produced by other people, typically journal articles, books. People doing AI algorithms, they don't even need to make public what they used. And they have managed to convince some public authorities that all their algorithms are so complicated and they cannot disclose what they have used. We need to build new nuclear plants everywhere to feed electricity to make our algorithm work. It looks like a nightmare future to me. 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What we see today is basically the breakdown of neoliberalism. I think the 2008 financial crisis and the Covid crisis have shown that market deregulation is not going to solve everything. Now the question is, what comes next? One solution is a form of narrow nationalism, which is a little bit way Trump is doing. (Prime Minister Narendra ) Modi is also doing that in a very different manner. I think neonationalism, especially of the Trump kind, is not going to solve any of the social environmental problems. We will have to build some kind of new social democracy for the 21st century. This is where we are back to the Global South. So we are back to India, given Trump, given all the political difficulties in Europe. I think the fact that the initiative in the G20 came from Brazil is in itself interesting and to me is potentially informative of where the political challenge could come in the future. Despite being a labour-intensive country, India's businesses opt for capital solutions. How can this be addressed? This partly has to do with the tax system. In short, labour should be taxed less than capital. And if you do the opposite, which is that if you exempt from tax wealth accumulation and capital accumulation, you will favour very capital-intensive choices. So that part of the answer has to do with the more balanced tax system. We also need to change the governance of corporations.There is a view here that rapid economic growth can address inequality...That's not something we see in history. What we see in history is that the reduction of inequality comes from changing policies and changing institutions. If you don't have a more progressive tax system, social security, or public services, you don't see any example of a country that was able to reduce inequality just waiting for growth to do that. Greater financialisation of the economy is also seen as an issue impacting inequality here... Those who have very little savings and wealth to begin with find it very difficult to start accumulating and are very often hit by inflation. We need some saving vehicles, which allow the poor to get some protection (from inflation) and get some positive real return. In the long run, we will need some kind of redistribution of inheritance. It's good to have a basic income, but I think basic inheritance in the long run should be part of an ideal system. There are other ways to do it-land reform or loans to access property. Policymakers in India have questioned your report. You are meeting some during this visit. Would you be able to convince them on some of the findings and recommendations? I'm trying to convince them. What I'm trying to tell them is first, please release more data. We know we have less information about income tax calculation today in India than what we had 50 years ago. Instead of just criticising the work we've done, please help us get more data. Even with the very imperfect data, we can be sure of one thing, that India is not an equal country. Is taxation the only way to tackle this? No, it's not but it's necessary if you have only 13-14% of GDP in tax revenues. Nominations for ET MSME Awards are now open. The last day to apply is December 15, 2024. Click here to submit your entry for any one or more of the 22 categories and stand a chance to win a prestigious award. (You can now subscribe to our Economic Times WhatsApp channel )Turning tragedy into purpose: Gabby Petito's father advocates for missing Black and brown people
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Even with technology taking over much of our day-to-day lives, board games still offer quality entertainment that can’t be beaten. Of course, the popular board games of today are a far cry from the games your parents grew up playing. Board games are perfect for encouraging your family to work together or for bringing your group of friends around the table for an evening. If you’d like to start up a weekly game night, let this helpful list of the most popular board games be your guide. Utter Nonsense Ages 8+ This game will have every player rolling in stitches with each ridiculous phrase that’s uttered. Combine crazy accents and hilarious phrases to impress the Nonsense Judge and win the round. The player with the highest number of wins ultimately wins the game, but the true fun of this card game is listening to your fellow players trying to say some of the most entertaining phrases of all time. This game is perfect for game nights or parties. Speak Out Ages 8+ This hilarious game is perfect if you have teenagers or are hosting a party with all adults. To play, you insert a mouthpiece that alters the sound of your speech, making every word sound silly. Set the timer and read one of the phrases on the cards and try to help your teammate guess what you’re saying. Speak Out easily provides hours of fun that even grandparents will love. Escape Room in a Box Ages 13+ What’s the next best thing to trying to break out of a room? Escape Room in a Box, of course. This thrilling, immersive game involves solving 2D and 3D puzzles in order to prevent a mad scientist from turning you and your friends or family into werewolves. Work together to escape your fate and use Amazon Alexa to enhance the experience. Codenames Ages 14+ This fun strategy game is perfect for anyone with teenagers. Form two teams and select a spymaster on each team. Using clues, spymasters try to help their teammates find all 25 of the agents they’re in contact with, hopefully without selecting the other team’s agents or running into the deadly assassin. This innovative game offers a challenging and rewarding time working together. Harry Potter Clue Ages 9+ Excite your kids on game night with this modern twist on a classic. Play as six recognizable Hogwarts characters — Harry, Hermione, Ron, Luna, Ginny or Neville — to solve the mystery behind a fellow student’s disappearance. It’s up to you to figure out who attacked the student, what bewitching spell they used and where it occurred. Watch out for the Dark Mark, moving staircases and secret passages as you travel along in this magical family game. Pandemic Ages 8+ If you’ve ever wanted to save humanity from a deadly outbreak, you’ll love spending an hour playing Pandemic. You and your teammates must fight to contain four deadly diseases threatening the human race. Players must learn to work with their teammates to control outbreak hotspots and treat diseases. Win the game by curing all diseases without wiping out humanity first. Catan Ages 10+ This tactical 60-minute game will push your imagination to its limits as you embark on a journey across Catan. Acquire crucial resources as you travel, build roads, buildings, and cities, and be wary of the ruthless robber and other players halting you on your own road. Through careful trading and clever decisions, you can lead your travelers to victory in this role-playing game of limitless possibilities. Play again and again. Every game is different. Ticket to Ride Ages 8+ Train lovers will enjoy this innovative board game which has won numerous awards. This cross-country train adventure game mimics the concept of traveling around the world in 80 days. Collect train cars and claim railways across the country. Players earn the most points by establishing long train routes and connecting distant cities. Each game takes roughly 30 to 40 minutes to complete, and every adventure is different. 5 Second Rule Ages 10+ This quick-paced game gives each player five seconds to name items on a certain topic. Although the topics are objectively easy —“Name 3 Mountains,” “Name 3 Types of Hats” or “Name 3 Super Heroes,” the pressure of the time crunch is likely to put you on edge. Race the clock and remain composed to win this game. You can even make up your own topics if you prefer. Half the fun is just hearing what other people blurt out, whether it’s relevant to the topic or not. Prices listed reflect time and date of publication and are subject to change. Check out our Daily Deals for the best products at the best prices and sign up here to receive the BestReviews weekly newsletter full of shopping inspo and sales. BestReviews spends thousands of hours researching, analyzing and testing products to recommend the best picks for most consumers. BestReviews and its newspaper partners may earn a commission if you purchase a product through one of our links.When Daniel Robinson, a 24-year-old Black man, went missing in Arizona in June 2021, his father, David Robinson, spent months pleading for police to be more aggressive in their search. Related video above: Parents of Brian Laundrie and Gabby Petito reached a legal settlement last year Frustrated with the lack of progress, Robinson temporarily moved to Arizona, hired an independent investigator and assembled a volunteer search team to look for Daniel. Despite local media reporting Daniel's disappearance as early as July 9, 2021, Robinson also felt the case did not receive the necessary media coverage. At the time, America's attention was captured by the disappearance and death of Gabby Petito , a 22-year-old White woman. "You wish you lived in a world where everything was equal, but it's really not equal," Robinson told CNN then. More than three years later, Robinson is still desperately looking for Daniel. He plans to travel to Arizona next spring and assemble a team of volunteers to search new areas and follow up on leads. And he has found a new ally in his efforts — Joseph Petito, Gabby's father. While searching for Gabby, Petito said he was being tagged in social media posts about the term "Missing White Woman Syndrome," which prompted him to look it up. The term, coined by the late TV news anchor Gwen Ifill, is defined by researchers as the heavier spotlight White women and girls receive when they go missing compared to anyone outside of those demographics. While cases of missing White women receive more focus, people of color are disappearing at disproportionate rates. According to 2022 FBI data, Black people make up 31% of missing person reports but only 13% of the US population. In contrast, White people account for 54% of missing person reports and 75% of the US population. "I did a deep dive into it," Petito told CNN. "I looked at popular missing persons cases and the ones that hit the mainstream all looked the same." Petito is on a mission to change that. He has spent the last three years advocating for missing Black and brown people through the Gabby Petito Foundation , a nonprofit that strives to raise awareness of missing people and prevent domestic violence. The foundation partners with families of missing Black and brown people, as well as groups dedicated to raising awareness of these cases, such as the Black & Missing Foundation . Petito has become a strong advocate in the search for Daniel, Robinson said. The fathers communicate regularly and have spoken at Crimecon — a gathering of true crime experts and fans — sharing their stories. Petito has also attended virtual events held in honor of Daniel. "What Mr. Petito has done for my family, it means a lot to me," Robinson said. "Because he had a tragedy and it's amazing when a person can take a tragedy and make something big out of it, become an advocate and help people." Petito is currently working on a television series called "Faces of the Missing," which will highlight dozens of unsolved missing persons cases he says have received little media coverage. "We are going to do all demographics," Petito said. "But we want to keep it consistent with the way people are represented from a proportionate perspective." "There's a lot of work that can be done and a lot of families that can be helped regardless of their color," he added. Petito also wants the series to combat the police classification of "runaway" for people who are reported missing, he said. Black families and advocates have previously told CNN authorities often suggest their missing loved ones ran away from home. "Unless you speak to the person specifically, they cannot be labeled a runaway," Petito said. "Any label other than 'missing' is wrong." Derrica Wilson , co-founder of Black & Missing, said she applauds Petito for using his platform to advocate for more media attention on missing people of color. Petito's foundation, she said, has become an ally of Black & Missing. Wilson and Petito have spoken on panels and podcasts together. In 2023, Wilson said the Gabby Petito Foundation donated $15,000 to her organization. Wilson said joining forces with other foundations only helps increase the chances of all families reuniting with their missing loved ones. "We've always said that missing persons isn't a Black issue, it's not a White issue, it's a human rights issue," Wilson said. "Regardless of race, gender and ZIP code everyone who is missing matters."