Hype and Critique

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notes

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


        Stutzle, I. and Kaufmann, S. (2017). Hype and Critique. In Stutzle, I. and Kaufmann, S. Thomas Piketty's 'Capital in the Twenty First Century': An Introduction. Verso, pp. 39-54

philosophical and metaphysical theories of divine presence in which the divine encompasses or is manifested in the material world

40

Piketty's thesis--that the tendency towards growing inequality is not a dumb coincidence but rather a law immanent to the economy or at least a strong tendency--is provocative

—p.40 by Ingo Stutzle, Stephen Kaufmann

notable

7 years ago

Piketty's thesis--that the tendency towards growing inequality is not a dumb coincidence but rather a law immanent to the economy or at least a strong tendency--is provocative

—p.40 by Ingo Stutzle, Stephen Kaufmann

notable

7 years ago

archive/so478

41

While Piketty attacks the dominant economic form, capitalism, he never argues in an anti-capitalist way. First of all, his ‘laws of distribution’ according to his work are valid in every economic formation, not just in capitalism (which he also leaves conceptually vague). For Piketty, growing inequality is a law of wealth per se, not of a specifically capitalist form of wealth. Secondly, his political demands do not amount to a fundamental transformation of the system, but rather are limited to a few changes in the tax system, which are supposed to make capitalism more stable. Piketty’s enormously constructive critique of capitalism makes him compatible to the reigning crisis discourse. Despite all coquetry, Piketty never misses a chance to distance himself from Marx’s ideas (which are attributed to him).

—p.41 by Ingo Stutzle, Stephen Kaufmann 7 years ago

While Piketty attacks the dominant economic form, capitalism, he never argues in an anti-capitalist way. First of all, his ‘laws of distribution’ according to his work are valid in every economic formation, not just in capitalism (which he also leaves conceptually vague). For Piketty, growing inequality is a law of wealth per se, not of a specifically capitalist form of wealth. Secondly, his political demands do not amount to a fundamental transformation of the system, but rather are limited to a few changes in the tax system, which are supposed to make capitalism more stable. Piketty’s enormously constructive critique of capitalism makes him compatible to the reigning crisis discourse. Despite all coquetry, Piketty never misses a chance to distance himself from Marx’s ideas (which are attributed to him).

—p.41 by Ingo Stutzle, Stephen Kaufmann 7 years ago

(adjective) expressing or of the nature of necessary truth or absolute certainty

44

Piketty’s apodictic statements, for example that the long-term consequences of the wealth distribution dynamic is ‘frightening’

—p.44 by Ingo Stutzle, Stephen Kaufmann

confirm

7 years ago

Piketty’s apodictic statements, for example that the long-term consequences of the wealth distribution dynamic is ‘frightening’

—p.44 by Ingo Stutzle, Stephen Kaufmann

confirm

7 years ago

Thomas Piketty's 'Capital in the Twenty First Century': An Introduction
by Ingo Stutzle, Stephen Kaufmann

Thomas Piketty's 'Capital in the Twenty First Century': An Introduction
by Ingo Stutzle, Stephen Kaufmann

Thomas Piketty's 'Capital in the Twenty First Century': An Introduction
by Ingo Stutzle, Stephen Kaufmann

immanence (en)

Piketty's enormously constructive critique

apodictic (en)

Thomas Piketty's 'Capital in the Twenty First Century': An Introduction by Ingo Stutzle, Stephen Kaufmann

Thomas Piketty's 'Capital in the Twenty First Century': An Introduction by Ingo Stutzle, Stephen Kaufmann

Thomas Piketty's 'Capital in the Twenty First Century': An Introduction by Ingo Stutzle, Stephen Kaufmann