The tendency of capitalism in this model is to concentrate more and more wealth in the hands of fewer and fewer people. But didnt we already know this? The rich get rich and the poorer get poorer? And didnt the Clash and others sing about it in the 1970s? Well actually, we didnt know this, although we might have guessed at it, says Piketty, warming to his theme. For one thing this is the first time we have accumulated the data which proves that this is the case. Second, although I am not a politician, it is obvious that this movement, which is speeding up, will have political implications – we will all be poorer in the future in every way and that creates crisis. I have proved that under the present circumstances capitalism simply cannot work.
Posted on: Mon, 14 Apr 2014 21:46:26 +0000
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