Capital in the Twenty First Century Capital in the Twenty First Century discussion


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message 1: by Janet (new) - added it

Janet Waiting to get this book in English - due October 2014?
In the meantime it's getting big attention in the US financial press, and looks like it will fuel a debate about inequality. I'm keen to understand the detail of Piketty's analysis, but whatever it is, the public debate is sorely needed, and I hope that labour unions in particular will pay it attention.
This is what a couple of reviewers say:
Economist - http://www.economist.com/blogs/freeex... "We are all used to sneering at communism because of its manifest failure to deliver the sustained rates of growth managed by market economies. But Marx's original critique of capitalism was not that it made for lousy growth rates. It was that a rising concentration of wealth couldn't be sustained politically. Ultimately, those of us who would like to preserve the market system need to grapple with that sort of dynamic, in the context of the worrying numbers on inequality that Mr Piketty presents."

NY times Capitalism vs Democracy - http://www.nytimes.com/2014/01/29/opi...
"Piketty proposes instead that the rise in inequality reflects markets working precisely as they should: “This has nothing to do with a market imperfection: the more perfect the capital market, the higher” the rate of return on capital is in comparison to the rate of growth of the economy. The higher this ratio is, the greater inequality is....The only way to halt this process, he argues, is to impose a global progressive tax on wealth – global in order to prevent (among other things) the transfer of assets to countries without such levies. A global tax, in this scheme, would restrict the concentration of wealth and limit the income flowing to capital." (But I ask - WHO would impose this tax? - I think labour needs to organise and be very strong about it, because capital will use all its might to resist.)


David Schwinghammer The United Nations could impose the tax; Piketty emphasized transparency more than the tax. There are too many tax havens: Switzerland, the Cayman Islands etc. The UN needs a new charter, where one country can't veto what they propose. They should be in Iraq right now; they need a stronger leader, somebody the world is familiar with (Do I dare mention Bill Clinton? He wants the job). A South Korean isn't going to be that person, yet anyway.


Marks54 Janet wrote: "Waiting to get this book in English - due October 2014?
In the meantime it's getting big attention in the US financial press, and looks like it will fuel a debate about inequality. I'm keen to unde..."


The book is already in print in English and has been for a while.


David Schwinghammer He certainly has a massive data base, which is much more than his critics have. I've already gotten junk from the Wall Street Journal on Facebook. Rupert Murdock, of Fox News, owns that now.


message 5: by Auntie (new) - added it

Auntie Greed When reading a book I often see myself in a conversation with the one author -- a limited conversation. I have just finished "The Piketty Phenomenon: New Zealand Perspectives" which is a great book to read, if you are seeking fuller conversations about the book "Capital". I especially enjoyed the articles by Matt Nolan, "What is the Piketty Model, and does it Fit New Zealand," and Prue Hyman, "Unplugging the Machine." What really set this book apart was the chance to have my inner-conversation not just with Piketty, but also with these 15 political economists and to see the conversations that were going on between them.


Robert Best Economic work so far in the 21st Century.


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