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First notes on Thomas Piketty's Capital in the 21st Century | 46 comments (46 topical, editorial, 0 hidden)
Re: First notes on Thomas Piketty's Capital (none / 1)
From what I have seen it would appear that r > g will be the bulldozer of economic history. The only way to control its push towards a patrimonial capitalist state is to reverse wealth disparity. It has happened before so, presumably, it can happen again. But it will be an uphill fight.  

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Thu Apr 24th, 2014 at 07:38:24 PM EST
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Re: First notes on Thomas Piketty's Capital (none / 0)
Perhaps the best tool to control the effects of r > g is public control over the creation of money, but that is only beneficial if the government is controlled by people operating in the interests of the majority of individuals, not the majority of wealth.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Thu Apr 24th, 2014 at 07:42:39 PM EST
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Re: First notes on Thomas Piketty's Capital (4.00 / 3)
Actually, sustaining r>g needs a lot of institutional support. Enforcement of debt, rent, property relations is strongest ever - just think of copyright, intellectual property. Somehow "incompetent" governments, international institutions do an outstanding job here.

Unless the accounting apparatus will crumble by itself at some time, a social-political transformation is needed, it seems. Or some independence from the totalitarian financial interests (so to speak), democratization of basic economic, monetary relations.

by das monde on Fri Apr 25th, 2014 at 02:15:08 AM EST
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Re: First notes on Thomas Piketty's Capital (none / 0)
Ah, you beat me to it.

Earth provides enough to satisfy every man's need, but not every man's greed. Gandhi
by Cyrille (cyrillev domain yahoo.fr) on Fri Apr 25th, 2014 at 02:21:37 AM EST
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First notes on Thomas Piketty's Capital in the 21st Century | 46 comments (46 topical, 0 editorial, 0 hidden)
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