3 ms·

The economist can always find time say something negative about Pickety

• stevenwoo 4y ago
  It's odd that they picked a single statement to critique but neglected the larger message (in my reading of Capital and Ideology which he changed his mind a bit from his earlier work as I understand it) about capital accumulation, which has little to do with income for the very wealthy or even location. It is a pattern which continued in every country even after changes from feudalism to capitalism or communism to capitalism or feudalism to state communism no matter how much democracy was involved - the constitution or founding documents put too much power in those with lots of capital and this cannot be changed without changing the constitutions and financial transparency of cross national dealings.
• seydor 4y ago
  Which is odd because piketty's data are entirely in line with the message of the article: overconcentration of wealth and prices going up. And Piketty has the 'solution' as well: the only times when inequality violently decreased was during world wars. I'm not sure how we can go about having one