According to the news media, 2014 was the year that the GOP “Establishment” finally pulled Republicans back from the right-wing brink. Pragmatism, it seemed, had finally triumphed over extremism in primary and general election contests that The New York Times called “proxy wars for the overall direction of the Republican Party.” There’s just one problem with this dominant narrative. It’s wrong. The GOP isn’t moving back to the center. The “proxy wars” of 2014 were mainly about tactics and packaging, not moderation. Consider three of the 2014 Senate victors—all touted as evidence of the GOP’s rediscovered maturity, and all backed in contested primaries by the Establishment’s heavy, the U.S. Chamber of Commerce:...

In the 1990s, two young French economists then affiliated with the Massachusetts Institute of Technology, Thomas Piketty and Emmanuel Saez, began the first rigorous effort to gather facts on income inequality in developed countries going back decades. In the wake of the 2007 financial crash, fundamental questions about the economy that had long been ignored again garnered attention. Piketty and Saez’s research stood ready with data showing that elites in developed countries had, in recent years, grown far wealthier relative to the general population than most economists had suspected. By the past decade, according to Piketty and Saez, inequality had returned to levels nearing those of the early 20th century. Last fall, Piketty published his magnum opus, Capital in the Twenty-First Century , in France. The book seeks to model the history, recent trends, and back-to-the-19th-century future of capitalism. The American Prospect asked experts and scholars in the field of inequality...