On Capitalism

[nhboy]

"When the rate of return of return on capital exceeds the rate of growth of output and income, as it did in the nineteenth century and seems quite likely to do again in the twenty-first, capitalism automatically generates arbitrary and unsustainable inequalities that radically undermine the meritocratic values on which which democratic societies are based " (T. Piketty)

 

[Gilligan]

"But has Mr. Piketty kicked off a broad national conversation about inequality, or is the book being read mostly in the East Coast liberal echo chamber?" J. Wolfers

 

[Toxick]

Piketty, like all other socialist puppeteers, once again conflates the concepts of Capitalism with Crony-Capitalism and Corporatism to the mindless elation of his ovine marks.


His tripe is almost as worthless as the idiots who lap it up without question.

 

[Larry Gude]

"When the rate of return of return on capital exceeds the rate of growth of output and income, as it did in the nineteenth century and seems quite likely to do again in the twenty-first, capitalism automatically generates arbitrary and unsustainable inequalities that radically undermine the meritocratic values on which which democratic societies are based " (T. Piketty)

Piketty is a lot like Occupy Wall Street; correct diagnosis. Incorrect prescription. He's the AlGore of economics.