Under the present circumstances capitalism simply cannot work. Thomas Pikettys new ground-breaking, extensively-researched 700 page book, Capital in the Twenty-First Century, argues that modern capitalism has put the world on the road not just to a highly unequal society, but to a society of an oligarchy—a society of inherited wealth. The prediction embedded in Pikettys book is that even as inequality has been on a steady rise for the last several decades, the truth is: we aint seen nothing yet. As we go forward, according to economist Paul Krugman, Pikettys thesis says that even though inequality is already a huge problem, its going to get even worse. Unless something gets better, he explains, were going to look back nostalgically on the early 21st century when you could still at least have the pretense that the wealthy actually earned their wealth. And, you know, by the year 2030, itll all be inherited. And as Krugman explains to Bill Moyers, the implications of a world dominated by the super-wealthy for regular working people is profound. When you have a few people who are so wealthy that they can effectively buy the political system, the political system is going to tend to serve their interests, he said. Watch the interview: commondreams.org/headline/2014/04/18-8
Posted on: Sun, 20 Apr 2014 17:12:01 +0000
Trending Topics
Recently Viewed Topics
© 2015