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Author Topic: Capital in the 21st Century  (Read 420 times)
Hnv1
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« on: April 15, 2014, 07:54:03 am »
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So I'm close to finishing this title by french political economist Thomas Piketty. I think this can stir some good debate here.

I personally think it's an excellent analysis to the importance of taxation as an instrument yet it still a revisionist ideology which makes it problematic as a 'beacon' for people left of social democracy. In addition, I would have liked a more solid proposal to policy considering the shift in the method of production with the 'information revolution' ongoing (at times it seems most of the socialist debate is conducted as if we're not amidst one largest changes to social order and economic order we had seen in decades).
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Meursault
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« Reply #1 on: April 29, 2014, 10:09:34 pm »
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We really aren't. The 'Information Revolution' is grossly overrated.
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tweed
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« Reply #2 on: April 30, 2014, 11:34:13 pm »
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I just ordered this, two copies actually.  my mom has been going off about it for two weeks already, and her birthday is May 18th so it'll be my "gift".  ordered two copies actually.  from the reviews it sounds like he goes against some basic theses of orthodox Marxism in addition to attacking the sick ideologists of late capitalism
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Governor Simfan
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« Reply #3 on: May 01, 2014, 12:38:04 am »
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Everyone tells me it's garbage.
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TheDeadFlagBlues
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« Reply #4 on: May 01, 2014, 09:54:41 am »
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Everyone tells me it's garbage.

Piketty is not the best writer and he is prone to tangential philosophizing but it's still an insightful book that's worth reading. At the very least, his empirical work is really important.
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Beet
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« Reply #5 on: May 01, 2014, 10:00:07 am »

We really aren't. The 'Information Revolution' is grossly overrated.

It's not overrated at all. If anything, it has opened up an entirely new dimension of inequality - the inequality of information, which is entirely invisible to the masses, but which will strengthen the gatekeepers' hold on them us immeasurably.
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traininthedistance
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« Reply #6 on: May 05, 2014, 04:28:01 pm »
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Everyone tells me it's garbage.

This makes me wonder who/what, exactly, you mean by "everybody".

Even The Economist had high praise for the quality of his research and empirical findings, even as they (obviously, would expect nothing less of course) blanch from his proposed solutions.
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Gustaf
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« Reply #7 on: May 10, 2014, 06:52:13 pm »
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I just read it and I'm working on a critical analysis of it.

I think it's severely over-hyped and I'm a bit unconvinced that he has in any dramatic way changed the premises of our debate on this issue.
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« Reply #8 on: August 20, 2014, 08:55:21 pm »
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Everyone tells me it's garbage.

Everyone who told you that is garbage.
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Healthcare is a right, not a moneymaking business - Bernie Sanders

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« Reply #9 on: August 20, 2014, 10:28:41 pm »
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Everyone tells me it's garbage.

Everyone who told you that is garbage.

I'd imagine he hangs out with other members of the heirs of the  petit rentiers.
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the result is a sense that we were told to attend a lavish dinner party that was going to be wonderful and by the time we got there, all the lobster and steak had been eaten, a fight had broken out, the police had been called and all that was left was warm beer and chips.
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Gustaf
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« Reply #10 on: August 21, 2014, 03:12:48 am »
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I was at a seminar about it the other day from some of the top economists in Sweden and it got resoundingly thrashed. The book is definitely very overhyped.
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politicus
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« Reply #11 on: August 21, 2014, 08:24:24 am »
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I was at a seminar about it the other day from some of the top economists in Sweden and it got resoundingly thrashed. The book is definitely very overhyped.

What where their main arguments against it?
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Gustaf
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« Reply #12 on: August 21, 2014, 10:30:31 am »
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I was at a seminar about it the other day from some of the top economists in Sweden and it got resoundingly thrashed. The book is definitely very overhyped.

What where their main arguments against it?

1. He's invented his own theory for how savings worked which he gives no argument for and which has no support in any previous research. Use the standard theory and his theoretical predictions do not hold.

2. His own data gives no support for his theoretical claims.

3. His exclusion of pension claims is potentially very problematic for his data on wealth.

4. Large parts of his analysis is based on pure conjecture and fiction rather than any theoretical or empirical analysis.

Also, he's a bit of a douche. But really, 1 and 2 (especially 2) are sufficient to discard his argument.
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This place really has become a cesspool of degenerate whores...

Economic score: +0.9
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In MN for fantasy stuff, member of the most recently dissolved centrist party.
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