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It's an interesting model and in my opinion, provides a much better model for the 'fourth turning' pattern than the mechanism put forward by the authors. The pr
by suoduandao3 3y ago
It's an interesting model and in my opinion, provides a much better model for the 'fourth turning' pattern than the mechanism put forward by the authors. The predictable return on capital Picketty points to after all only happens during times of stability, during times of instability wealth disparities actually decrease. If too much concentration of wealth leads to crisis and crisis is a 'distributing' mechanism this is basically a self-correcting dynamic.
- thesuperbigfrog 3y ago>> If too much concentration of wealth leads to crisis and crisis is a 'distributing' mechanism this is basically a self-correcting dynamic. Doesn't this imply that economic hardships lead to unrest and wars? It certainly seems so and seems like a logical conclusion. It may be primarily anecdotal, but the last 100 years or so seem to confirm it.
- lainga 3y agoFor the opposite (not quite converse logically!) argument that unrest and wars lead to economic equality, I recommend Walter Scheidel's "The Great Leveler". https://press.princeton.edu/books/paperback/9780691183251/the-great-leveler https://press.princeton.edu/books/paperback/9780691183251/th...
- Fauntleroy 3y agoPerhaps there is a better alternative to this. Rather than simply waiting for "times of instability," society at large could take a more proactive approach.