Capital in the Twenty-First Century

[Razgovory]

When was in history, other than the brief post-WW2 timeframe, that the "1%" did not control the vast majority of available wealth?

What is your point?

[The Brain]

The great drama of our time is the rise of the 1 percent.

[Tamas]

The great drama of our time is the rise of the 1 percent.

Yeah. Aristocracy as a concept ninja-spawned on unsuspecting humanity in the 21st century.

[Martinus]

When was in history, other than the brief post-WW2 timeframe, that the "1%" did not control the vast majority of available wealth?

What is your point?

Yeah. If the argument is that something is acceptable today because it existed for the better part of human history, then the same goes for slavery, torture, lack of sanitation and illiteracy. In arguments like this there is a fine line between being a conservative and a reactionary.

[Valmy]

Was Tamas making a statement about its acceptability?

[crazy canuck]

The great drama of our time is the rise of the 1 percent. Thomas Piketty has done more than anyone else to put this question on the public agenda. But while his book Capital in the Twenty-First Century documents the growth of inequality, he does not offer much of an explanation or a solution. He thinks that capitalism naturally favors investors over workers, and proposes as a remedy a global wealth tax, which no one thinks is feasible.

Sigh, yet another person claiming to have read Piketty's book and really only read the reviews about the book.

[Eddie Teach]

Was Tamas making a statement about its acceptability?

Probably. 

[Valmy]

I thought he was saying the 1% dominating us peasants was not only not new it was the normal state of things.

[Eddie Teach]

Most people accept the normal state of things.

[Valmy]

Most people accept the normal state of things.

The normal state of things makes Madame la Guillotine cry for blood.

[Oexmelin]

In case some people want to keep up with Piketty's research:

http://equitablegrowth.org/research-analysis/economic-growth-in-the-united-states-a-tale-of-two-countries/

[Jacob]

In case some people want to keep up with Piketty's research:

http://equitablegrowth.org/research-analysis/economic-growth-in-the-united-states-a-tale-of-two-countries/

I suppose there are a few potential lessons to take from this: 1) The US ought to do something to address this lack of growth at the bottom; 2) Better not fall into the bottom 50% of income earners.

[crazy canuck]

In case some people want to keep up with Piketty's research:

http://equitablegrowth.org/research-analysis/economic-growth-in-the-united-states-a-tale-of-two-countries/

Thank you.

I will spend some time on that over the weekend.

[jimmy olsen]

538 has a nice article on this topic with some nifty charts

http://fivethirtyeight.com/features/inequality-is-killing-the-american-dream/

[Berkut]

Fuck I posted about this years ago with that nice video showing how wealth was divided in America.

I remember the Yi's and such all being like "Yeah, that is cool"