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Picketty's <em>Capital in the Twenty-First Century</em> is an excellent read for anyone interested in wealth inequality, the data behind it, and its effects.
What??? Do you think FDR was communist? Do you think Bernie is communist? Do you think Norway and Sweden are communist? Learn what communism is and what it is not.
Again, the USA had its best years when we had 70-90% taxes on the rich. If we want to bring back the good years, we need to pass something like the Green New Deal that has marginal tax rates that max out at 70%. Or a 2% tax on wealth above 50 million would be great too.
Think how much we would free the serfs of the US if we could cancel college loan debt!
Try picking up this book, you may learn something.
https://www.amazon.com/Capital-Twenty-First-Century-Thomas-Piketty-ebook/dp/B074DVRW88
Go and read a book: Piketty 'Capital and Ideology'. If you can't face a book, then a short online article that outlines it.
But odds are, it's not a they but you, given yourintense dislike of the idea your ideology may have helped provoke many of the UK's current woes. And cognitive dissonance is hard to reconcile and will probably lead to a refusal to even follow the links ... ¯\_(ツ)_/¯
You're correct that the 'filthy Tory party' doesn't represent working class needs, but wrong to suggest that votes for socially conservative politics is out of hatred. That's merely the justification that "progressives" use for vilifying and othering the people their social policies leave behind. And aren't you just paying the price for that, eh?
Depends on what you mean by "ideal" I guess, but unless capitalism is highly regulated and a good portion of profits redistributed, it eventually leads to extreme inequalities of wealth and power (see Capital in the Twenty-First Century).
Fellow bookworms, which book are you currently reading? In my case it's "The Future Is Asian: Commerce, Conflict, and Culture in the 21st Century" by Parag Khanna.
I read a lot of books last year, but definitely slowed down this year.
It gets lost on many people that we have a problem with the top 10% as opposed to just a problem with the top 1% or .1%.
But recently some books are taking a crack at the topic:
The 9.9 Percent: The New Aristocracy That Is Entrenching Inequality and Warping Our Culture
Ugh how droll. I'd recommend Capital in the Twenty-First Century by Thomas Piketty instead. It's not 100+ years old, is loaded with empirical data, and is far more relevant for today's economy.
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Lol this book seems cringe as fuck, why do keynes flairs on here like this guy so much
You created an account one day ago just to make silly comments like this? 🙄
Calm down. “Future is Asian” is the name of a book by an India American. White supremacists may get perturbed, but the world is changing.
https://www.amazon.com/Future-Asian-Parag-Khanna-ebook/dp/B07GNVMDNZ
> What's your sense now of the emerging systemic change?
From what you’ve posted, may I recommend Nafeez Ahmed’s book “A User’s Guide to the Crisis of Civilisation” (link - Amazon). It connects climate catastrophe, energy scarcity, food insecurity, economic instability, international terrorism, and the militarisation of society, and argues that these are inter-related because they are integral to the ideology, structure, and logic of the global political economy. It’s the clearest explanation I’ve come across of what we are witnessing, where it is likely to head, and what might be done about it.
You should read Piketty some time, he uses the standard corporate ROE and reinvestment equations to demonstrate how private wealth accumulates over time. Applying the same type of analysis at state level to see fluctuations in the economy doesn't seem that far out there, assuming of course Piketty did nail down the true laws of capitalism.
I sometimes like to read Socialism by Ludwig von Mises as a way to counter the anarchist/socialist theories I've come to believe. And why not go to the source of so many critiques of what I've come to believe?
I usually just come away with more questions about why the hell capitalism is so great, though...so...I don't think it's working.
>Unsustainable because 1) workforce is ageing, 2) low birth rates, 3) strict immigration policy.
This doesn't support your argument, as Norway owns the foreign asset equivalent of 100% of domestic capital stock collectively (ignoring domestic capital stock ownership held in common).
Unless the entire population is going to die off, Norway is in a much better position than other ageing countries.
>not to mention the scale effect of inefficiencies when expanded for a larger country
It's actually the other way around, Piketty (in Capital in the 21st century) demonstrated rather convincingly that;
r>>g, and r for large asset pools > r for small asset pools.
The return on the collective stock of capital that can be held by a state doesn't shrink as the asset pool grows, it (judging by time series data) actually increases.
The 1%ers are not the problem, although their ridiculous wealth can be revolting. Luckily I live in a society where I don't have to bump into such people daily. However it is the top 20% upper middle class that potentially will shift the society so much that it breaks. Peterson is aware of this - the primary societal problem for him is the inevitability of radical inequality in a meritocracy as productivity follows the Pareto distribution. This will likely get worse through globalization and (for JP) merely redistributing resources and re-qualifying those left behind (as the standard left model goes) is not enough. Neither does conservatives notion of just dumping the minimum wage. He does not ignore this problem and contrary to many others acknowledges that inherent biological differences in ability make this problem very hard to solve. Check his interview with Martin Daly for more on this. The connection between this and his adoption of a Christian value system (remember he also speaks fondly of Buddhism and pre-Christian mythology) are not wholly clear to me, if there is any. Maybe he sees it as a remedy, but perhaps it is the opposite.