Piketty- Capital in the Twenty -First Century

Piketty-Capital in the Twenty-First Century • Quote 1: “The distribution of wealth is one of today’s most widelydiscussedandcontroversial issues. But what do we reallyknowaboutit’sevolutionover the long term?” Wealth≠income • Part 1: Theoretical concepts • Part 2-3: Empirical findings&historical interpretation • Part 4: Predicion and policy advise

Quote 2 • ”Capitalismautomaticallygeneratesarbitraryandunsustainableinequalitiesthatradicallyundermine the meritocraticvalues on whichdemocraticsocieties are based” (p. 1)

How much of totalwealthownedby top-10%? • A) 20% • B) 30% • C) 40% • D) 50% • E) 60% • F) 70% • G) 80% • H) 90%

Causes/background • Economic • R>g • Political (1975-heden) • GlobalisationBargaining power capital (‘race to the bottom’) • Weaker unions • End of Cold War • Saturized product markets • Trans-national governance • Deregulation (or: reregulation)

The power of discounting

Quote 3 • ”A gap r-g of fairly modest size is allthatit takes toarrive at anextremelyinegalitariandistribution of wealth” (p. 451)

Quote 4 • ”the averageincome of the parents of Harvardstudents is currentlyabout 450.000 (..) Such a finding does notseementirely compatible with the idea of selectionbasedsolely on merit” (p. 485)

Quote 5 • ”The richworld is rich, but the governments of the richworld are poor. Europe is the most extreme case: it has both the highest level of private wealth in the worldand the greatestdifficulty in resolvingits public debt crisis” (p. 485)

Quote 6&7 • ”in a democracy, the professedequality of rights of allcitizenscontrastssharplywith the very real inequality of living conditions” (p. 423) • “The top thousandth would then own 60% of global wealth, which is hard to imagine in the framework of existing political institutions unless there is a particulary effective system of repression or an extremely powerful apparatus of persuasion, or perhaps both” (p. 439)

On the roadtopatrimonialcapitalism • Vautrin’slesson in Balzac’s Pere Goriot (1835) to Rastignac

FinalsentencePiketty • “Refusingto deal withnumbersrarely serves the interests of the least well-off” (p. 577).

Piketty- Capital in the Twenty -First Century

Piketty- Capital in the Twenty -First Century

Presentation Transcript

Part I – Entrepreneurship in the Twenty-First Century

INFORMATION ETHICS IN THE TWENTY FIRST CENTURY

TWENTY-FIRST CENTURY TANK CLEANING

Twenty-First Century Psychotherapies

Business Ethics In The Twenty-First Century

Redefining Writing in the Twenty-first Century:

QCD in the Twenty-First Century

Anglos and Mexicans in the Twenty First Century

First Century Morals in the Twenty First Century

Being a Graduate in the Twenty-first Century

Marketing in the Twenty-first Century

INFORMATION ETHICS IN THE TWENTY FIRST CENTURY

GEOGRAPHIC ISSUES of the Twenty-first Century

The MIRAB Model in the Twenty-First Century

ANTIQUARIAN BOOKS IN THE TWENTY-FIRST CENTURY

Chapter Thirteen Religion in the Twenty-First Century

Being a Graduate in the Twenty-first Century

TO THE TWENTY-FIRST CENTURY, 1989-

Twenty-First Century Psychotherapies

MENTORING STRATEGIES For the Twenty-First Century

The Twenty-First Century Student

Being a Graduate in the Twenty-first Century