The World Inequality Lab (WIL), co-directed by economist Thomas Piketty, has released a sweeping proposal that advocates for radical economic and social reforms to simultaneously curb global warming and slash economic inequality. the plan calls for a steep wealth tax on billionaires, a reduction in annual working hours to roughly 1,000 (about 2.5 days per week), cuts in red-meat consumption,and massive public investment in education and healthcare. According to the WIL report, these measures are necessary to fund a transition to a sustainable and equitable global economy by the end of the century.

The €5,000 Monthly Salary and the 1,000-Hour Work Year: Key Targets

The WIL's vision includes cutting the average workweek to roughly 1,000 hours per year, which translates to about two and a half days of work each week, as the report states.. The authors argue that limiting paid labor would free up time for leisure, civic engagement, and a more equitable distribution of productivity gains. By the end of the twenty-first century, the model predicts that the average monthly salary could reach €5,000 (about £4,324), effectively doubling the income of 89 percent of people while leaving the richest elite largely untouched, according to the WIL's calculations.

How the Plan Would Reshape Global Wealth: From 6% to 0.05% for Billionaires

To fund the transition, the WIL proposes a steep wealth levy that would dramatically shrink the share of global wealth held by the ultra-rich — from roughly six percent to a mere 0.05 percent. simultaneously, the share owned by the poorest half of humanity would rise from two percent to thirty percent, as detailed in the report. this redistribution, the authors argue, is essential for financing the public investments needed for decarbonization and social welfare.

The Role of Public Spending: €8,400 for Education, €14,400 for Healthcare per Person

The blueprint includes a massive expansion of public spending on human development. Under the plan, annual per-person spending on education would rise to €8,400 (about £7,250) and healthcare to €14,400 (about £12,453), according to the WIL report. The report also urges individuals to reduce their intake of red meat, citing livestock production as a leading driver of deforestation and greenhouse-gas emissions worldwide. These consumption shifts, combined with public investment, are seen as critical to keeping global warming below the 2°C threshold.

Thomas Piketty's Political Diagnostics: Why Neoliberalism 'Cannot Deliver'

According to Thomas Piketty, co-director of the WIL and professor at the Paris School of Economics, current neoliberal and nationalist ideologies — championed by figures such as Donald Trump — are incapable of delivering the systemic changes required to avert climate catastrophe and mounting social disparity. He stresses that only a cooperative redistribution of resources and power can avert disastrous outcomes. The report frames its vision as a broader cultural shift toward solidarity and sustainability, but it leaves key questions unanswered: How would a global wealth tax be enforced across nations with diverging politiccal priorities? The WIL does not detail mechanisms for compliance or address the likelihood of resistance from wealthy nations and billionaires. Furthermore, the feasibility of shifting dietary habits on a global scale, particularly in countries with high red-meat consumption, remains an open challenge not fully explored in the proposal.