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And there is much better documented data (from Picketty's database) that shows that return from capital is as high as the gilded age. I don't think you can rea
by dv_dt 10y ago
And there is much better documented data (from Picketty's database) that shows that return from capital is as high as the gilded age.
I don't think you can really blame employees for presentism, I think it's generally more difficult to make part-time work arrangements in the white collar world, whereas at the lower end of wages, where it benefits capital owners, blue-collar workers are forced to be part-time...
- ArkyBeagle 10y agoNo, I did not intend to blame employees - it's baked into the system. I'd argue that it only benefits capital owners in the sense of having a convenient thing ( that's hopefully nearly irrelevant ) to measure. Edit: I think Piketty glosses over what's actually capital and what is not. It's not the complement of labor - production is the mixing of land, labor and capital. That's three things.
- eru 10y agoIt's the returns to land, not capital in general. See eg http://www.economist.com/blogs/freeexchange/2014/02/inequality http://www.economist.com/blogs/freeexchange/2014/02/inequali... and others you can find when looking for "Picketty land".