Welcome to Bookmarker!

This is a personal project by @dellsystem. I built this to help me retain information from the books I'm reading. Currently can only be used by a single user (myself), but I plan to extend it to support multiple users eventually.

Source code on GitHub (MIT license).

Author

1

Pikettymania

on the Matthew Effect and how Piketty merely confirmed what people sorta already knew

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1

Pikettymania

on the Matthew Effect and how Piketty merely confirmed what people sorta already knew

/
5

The Prelude: Redistribution, Inequality and Debt Crisis

  • historical context: neoliberalism -> tax competition between states to attract capital -> decline of wages as % of NI
  • then, financial crisis -> public debt -> austerity and private debt
  • thus even mainstream needed to problematise inequality (not for sake of justice but to ensure economic stability/growth)
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5

The Prelude: Redistribution, Inequality and Debt Crisis

  • historical context: neoliberalism -> tax competition between states to attract capital -> decline of wages as % of NI
  • then, financial crisis -> public debt -> austerity and private debt
  • thus even mainstream needed to problematise inequality (not for sake of justice but to ensure economic stability/growth)
/
15

The Book

  • data from tax records
  • capital-income ratio and r > g
  • the myth of meritocracy (so essential to neoliberal capitalism) is starting to lose legitimacy as inherited wealth plays a larger role
  • solution: global wealth tax, less than r, and only for larger fortunes
/
15

The Book

  • data from tax records
  • capital-income ratio and r > g
  • the myth of meritocracy (so essential to neoliberal capitalism) is starting to lose legitimacy as inherited wealth plays a larger role
  • solution: global wealth tax, less than r, and only for larger fortunes
/
39

Hype and Critique

criticisms from the right, which the authors address:

  • disputing the claim that inequality tends to grow (theorising that the rich consume their wealth, or that r isnt always > g)
  • that inequality is actually good for fostering innovation (the Paul Graham school of thought)--this criticism misses its mark cus Piketty kinda agrees (he just thinks the dynamics of inheritance will result in the wrong kind of inequality)
  • flawed data (he prob underestimates ineq tbh)
  • doesn't apply to Germany (but it does if you look at wealth)

from the left:

  • that it's too neoclassical; Piketty understands capital as a "thing" instead of a social process (David Harvey). OTOH, Rainer Rilling thinks it's a good thing that the neoclassical mainstream can even conceive of this idea (shifting Overton window?)
  • he overlooks central role of class struggle (Graeber): greater redistribution was won by violence + employers needing to buy workers off to contain red menace
  • ignores deeper analysis of financial industry + the role that plays in maintaining wealth of the super-rich
  • too eurocentric
/
39

Hype and Critique

criticisms from the right, which the authors address:

  • disputing the claim that inequality tends to grow (theorising that the rich consume their wealth, or that r isnt always > g)
  • that inequality is actually good for fostering innovation (the Paul Graham school of thought)--this criticism misses its mark cus Piketty kinda agrees (he just thinks the dynamics of inheritance will result in the wrong kind of inequality)
  • flawed data (he prob underestimates ineq tbh)
  • doesn't apply to Germany (but it does if you look at wealth)

from the left:

  • that it's too neoclassical; Piketty understands capital as a "thing" instead of a social process (David Harvey). OTOH, Rainer Rilling thinks it's a good thing that the neoclassical mainstream can even conceive of this idea (shifting Overton window?)
  • he overlooks central role of class struggle (Graeber): greater redistribution was won by violence + employers needing to buy workers off to contain red menace
  • ignores deeper analysis of financial industry + the role that plays in maintaining wealth of the super-rich
  • too eurocentric
/