Apr

25

 Thomas Piketty's new book Capital in the Twenty-First Century named to seem similar to Das Kapital supposedly proves that capital is bad for everyone, and some people owning a lot of it is REALLY bad.

The solution? Tax the heck out of their wealth, and globally because destroying wealth will create more of it. All data-driven, because in France economists are not respected and need to prove their case. Since Marx Sr. had such a pleasant impact, who knows what this book destined to be "something big" and much appreciated in a thorough Harvard Business Review review will bring?


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2 Comments so far

  1. Steve on April 25, 2014 3:17 pm

    If the state should tax great wealth, all that occurs is that wealth is transferred to the people within the state. It doesn't get destroyed. It just gets stolen.

    And if great wealth is so bad for everyone, then transferring it to someone else doesn't make any sense. If it's bad for one person, it's bad for another person.

    Any scheme designed to transfer money from the productive to the unproductive whether it's wars, global warming abatement or the welfare state, fill in the blank, will be applauded by the Harvard Business Review along with most of academia and the mainstream press.

  2. Earl on April 29, 2014 12:26 pm

    Steve, your thoughts are fairly common but include a good measure of argumentum ad absurdum. Assuming that all people who have great sums of money are productive while people who lack even small sums of money are unproductive doesn’t ring quite true. is an 18 year old programmer who sells his entirely unprofitable app for $10 million to some VC more productive than the migrant construction laborer who works 10 hard hours a day to barely take home $100?

    Additionally trying to state that great wealth in general is bad therefore transferring any part of said wealth lacks sense is also a bit obtuse. Asking a small minority to pony up excess funds instead of putting it on the backs of the broad and already suffering middle class or, heavens forbid, corporations isnt exactly a wild idea.

    At some given point, the straw breaks the camels back; when the heavy majority see no future, history has shown time and time again that the financial elite go down as well.

    At a given point when the great majority suffer economic inequalities

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