As public deficits balloon and extreme wealth explode, creating a minimum tax on the assets of billionaires should be a priority, argue seven Nobel Prize-winning economists in an op-ed for Le Monde.

Published on July 7, 2025, at 5:23 pm (Paris), updated on July 7, 2025, at 5:52 pm

This op-ed was signed by Daron Acemoglu (MIT), 2024 Nobel Prize in Economics; George Akerlof (Georgetown), 2001 Nobel Prize in Economics; Abhijit Banerjee (MIT), 2019 Nobel Prize in Economics; Esther Duflo (Collège de France and MIT), 2019 Nobel Prize in Economics; Simon Johnson (MIT), 2024 Nobel Prize in Economics; Paul Krugman (CUNY), 2008 Nobel Prize in Economics; Joseph Stiglitz (Columbia), 2001 Nobel Prize in Economics.

They have never been so wealthy and yet contribute little, relative to their ability to pay, to the public coffers: From Bernard Arnault to Elon Musk, billionaires have lower tax rates than the average taxpayer.

Read the full op-ed via Le Monde.