Quote:
Originally Posted by Rudeboyelvis
#1 on Amazon's best seller list
>>>...In Piketty's view, backed by centuries of data on wealth and economic growth, the typical outcome of unfettered capitalism is rising income inequality. Piketty says the world's biggest economies have to do something, like impose a global tax on capital, to stop it. As Piketty said in an interview with HuffPost Live last week, income inequality is only getting started, and this century could look a lot more like the deeply unequal 18th and 19th centuries than the more-egalitarian 20th....<<<
http://www.huffingtonpost.com/2014/0...n_5191566.html |
i'm reading the slate article about the book now. need to get it along with my penman book i'm ordering. piketty was one i saw referenced in my thursday posts on this thread. wasn't able to copy/paste because i was on my new phone, and i haven't figured out all that crap yet!
'A 2013 study by Thomas Piketty, Emmanuel Saez et al., notes that the rise in the share of total annual income received by the top 1%, which has more than doubled since 1976, has had a significant effect on overall income inequality. It states: "It is tempting to dismiss the study of this group as a passing political fad due to the slogans of the Occupy movement or as the academic equivalent of reality TV. But the magnitudes are truly substantial."[46] Also in 2013, the Economic Policy Institute noted that even though corporate profits are at historic highs, the wage and benefit growth of the vast majority has stagnated. The fruits of overall growth have accrued disproportionately to the top 1%'.