Original Blog Entry: Capitalism in Its Current Form Undermines Democracy

jimmy4164 — Thu, 29 May 2014 05:07:21 GMT

Capital in the Twenty-First Century

(The Book Making Wall St. Tremble)

Thomas Piketty

Excerpt From the Introduction to Capital in the Twenty-First Century:

The distribution of wealth is one of today's most widely discussed and controversial issues. But what do we really know about its evolution over the long term? Do the dynamics of private capital accumulation inevitably lead to the concentration of wealth in ever fewer hands, as Karl Marx believed in the nineteenth century? Or do the balancing forces of growth, competition, and technological progress lead in later stages of development to reduced inequality and greater harmony among the classes, as Simon Kuznets thought in the twentieth century? What do we really know about how wealth and income have evolved since the eighteenth century, and what lessons can we derive from that knowledge for the century now under way?

These are the questions I attempt to answer in this book...

Read the Rest of the Excerpt...

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