Earlier quoted context omitted.
Yeah, I realised that too at some point. And I immediately formed a (maybe obvious) hypothesis about the timing.
I'm assuming you don't mean communism? Because even in the book he is fairly down on communism/socialism. It seemed to me the more likely (and unpleasant) hypothesis is that war/nationalism generates growth like nothing else. When the threat of war looms and patriotism is high, government investment in technology and society is also high, and corporations are more likely to be invested in their home country rather th…
A review of Thomas Piketty’s “Capital and Ideology”
71–80 of 218 posts
Re: A review of Thomas Piketty’s “Capital and Ideology”
#72Earlier quoted context omitted.
This is painfully true. This is pretty well captured by the completely out of touch sentiments in [0], written by the folks at Crooked Media (generally Democratic establishment people). The wealthy upper middle class sees the coronavirus quarantine as just a chill time to work from home on a laptop and drink wine. These people are not ignoring the plights of the poorer working class; they are altogether completely bl…
> They know that 3 million people just filed for unemployment, but they only know about it as an abstract statistic. In a thread on HN someone commented that the 3m unemployment figure was only 1% of the population. I had to take a moment to let that sink in. It makes me worried about a future dominated by technocrats.
This would be approximately 3M / 158M [0], or a 1.8% rise in the unemployment rate.
In the 2008 recession, we saw a total unemployment rate of almost 10%, so we'd have to lose an additional 7-8M jobs to get to that level.
Re: A review of Thomas Piketty’s “Capital and Ideology”
#73Paul Krugman's review: * https://www.nytimes.com/2020/03/08/books/review/capital-and-... Krugman liked Piketty's previous book ( Captail-21C ), but concluded this one needed some more editing: > The bottom line: I really wanted to like “Capital and Ideology,” but have to acknowledge that it’s something of a letdown. There are interesting ideas and analyses scattered through the book, but they get lost in the sheer vo…
Re: A review of Thomas Piketty’s “Capital and Ideology”
#74Earlier quoted context omitted.
> They know that 3 million people just filed for unemployment, but they only know about it as an abstract statistic. In a thread on HN someone commented that the 3m unemployment figure was only 1% of the population. I had to take a moment to let that sink in. It makes me worried about a future dominated by technocrats.
a better percentage to use would be the delta in unemployment rate, e.g. 3M / (# of people who want to work). This would be approximately 3M / 158M [0], or a 1.8% rise in the unemployment rate. In the 2008 recession, we saw a total unemployment rate of almost 10%, so we'd have to lose an additional 7-8M jobs to get to that level. [0] https://www.bls.gov/news.release/empsit.t08.htm
[0] https://www.usnews.com/news/economy/articles/2020-03-23/fed-...
Re: A review of Thomas Piketty’s “Capital and Ideology”
#75" “the Democratic Party in the United States transitioned over half a century from the workers’ party to the party of the highly educated.” Elites’ distance from working-class interest, he contends, led the Democratic party and its ideological counterparts abroad to accede to a policy program betraying the values of social democracy: regressive taxation, elite domination of higher education systems, and forms of glob…
One thing to remember is that everyone thinks they're "middle class". Even the corporate VP making half a million dollars thinks she's middle class.
Friedrich Merz, a politician of Angela Merkel's Christian Democratic Union, but purged by her years ago, is trying to become next party chief and chancellor.
He is a board member of Blackrock. A lobbyist, and a successful business lawyer. He owns private airplanes.
Yet, in a much laughed about interview, he claimed to belong to the "upper middle class".
Re: A review of Thomas Piketty’s “Capital and Ideology”
#76" “the Democratic Party in the United States transitioned over half a century from the workers’ party to the party of the highly educated.” Elites’ distance from working-class interest, he contends, led the Democratic party and its ideological counterparts abroad to accede to a policy program betraying the values of social democracy: regressive taxation, elite domination of higher education systems, and forms of glob…
This is painfully true. This is pretty well captured by the completely out of touch sentiments in [0], written by the folks at Crooked Media (generally Democratic establishment people). The wealthy upper middle class sees the coronavirus quarantine as just a chill time to work from home on a laptop and drink wine. These people are not ignoring the plights of the poorer working class; they are altogether completely bl…
Re: A review of Thomas Piketty’s “Capital and Ideology”
#77It's worth noting that Piketty has an astonishingly basic misunderstanding/non-understanding of the marxist analysis of capitalism despite the titles of his books. He hasn't even read Capital. I like his politics relatively well as far as most liberals go but that is still pretty disappointing. “What I mean,” Piketty says, explaining his differences with Marx, “is that your class position is not enough to determine y…
Economists use the word "capital" without making reference to Marx. Marx didn't come up with that word, it had a meaning in classical economics since Adam Smith (and maybe before).
I think the rest of your post is wrong too. Marx does argue for a "mechanical determination of ideology". For Marx, man is the animal that labors, not a rational animal or a political animal. What matters is what you make with your body. If you labor with your body then you're a proletarian, and you will experience class consciousness from that perspective. If you make money from other people's labor, you're bourgeois, and you will experience bourgeois class consciousness.
I don't know if Marx talks about bourgeois who consider themselves Marxists (like Engels -- Marx was not bourgeois).
> In general I think his analysis is that "capitalism should just change some specific things to reduce inequality" without any materialist, political-economic understanding of why inequality is so rampant in the first place - why capital's dominance comes from the structure of the economy. That is why marxism is interesting, marxism makes a very compelling argument for it, and liberals ignore it at their peril.
This is also bizarre. Piketty does have a theory about "why inequality is so rampant in the first place". He just thinks we can change the laws and fix it!
Re: A review of Thomas Piketty’s “Capital and Ideology”
#78It's worth noting that Piketty has an astonishingly basic misunderstanding/non-understanding of the marxist analysis of capitalism despite the titles of his books. He hasn't even read Capital. I like his politics relatively well as far as most liberals go but that is still pretty disappointing. “What I mean,” Piketty says, explaining his differences with Marx, “is that your class position is not enough to determine y…
To try to help ^^: "Social Safety- And Inner Politics Rules Behavior 'Ethicaly' ?" -So, if that was the Question Socialism wanted to answer... (-;
HINT://de.m.wikipedia.org/wiki/Ethik#Das_Ziel_menschlichen_Handelns
Re: A review of Thomas Piketty’s “Capital and Ideology”
#79I'm currently working my way through Capital in the Twenty-First Century . It's been really eye-opening about how bad inequality actually is. I suggest everyone read it, and I'm excited to read his new one soon after.
The thing I took away from Capital in the Twenty-First Century was his conjecture that the post-WWII (until about 1990) period was one of the few times in history that prosperity was widely shared with workers. The era that I consider to be normal (since I lived it) is in fact very abnormal.
Re: A review of Thomas Piketty’s “Capital and Ideology”
#80Earlier quoted context omitted.
Gini coefficient is a very blunt measure of inequality. You could have two countries, one with more equality, but a lower standard of living for the middle class and one country with higher inequality, but a much better standard of living for the middle class. The 2nd (with higher inequality) is obviously preferred.
> The 2nd (with higher inequality) is obviously preferred. Is this really obvious to modern left?