PMMJ (cheetahmaster) wrote,
PMMJ
cheetahmaster

the other side of the coin

"The lesson I took from the book is that wealth concentration is highly variable. It bounces up and down over the centuries, increasing in certain places and eras, and then dissipating via war, famine, dissolute sons, lavish spending, expropriation, dispersion among heirs, disruptive technologies, and so forth. Right now, wealth concentration has been rising for a few decades, and that's something worth grappling with for all the reasons Piketty lays out. And yet, I can't help thinking that on the time scales Piketty writes about, a few decades is a historical blip. There's simply no 'inexorable trend' visible in his data."
-Kevin Drum

Tags: 2014, news, quotes
Subscribe

  • relevant to my interests

    "The Secret Douglas Adams RPG people have been playing for 15 years."

  • tactical

    "This actually fits with everything Obama has been doing lately: neither his legislative proposals nor his executive actions have been world shaking.…

  • huh

    "The problem for a terrorist group like Al Qaeda is that its recruitment pool is Muslims, but most Muslims are not interested in terrorism. Most…

  • Post a new comment

    Error

    default userpic

    Your IP address will be recorded 

    When you submit the form an invisible reCAPTCHA check will be performed.
    You must follow the Privacy Policy and Google Terms of use.
  • 0 comments