Thomas Piketty identifies an important ill of capitalism but not its cure
Editorials like this are arriving all over the globe, from many diverse sources who feel that their ill-gotten status is threatened by Piketty re-lifting the same waistcoat .... as well as by the many who already knew the ailment, had seen the flab before the waistcoat was donned, and are impatient for a cure - not just yet another description.
A diagnosis is only half way to a cure? And a description is only half way to a diagnosis of how the ailment was brought to be.
There's an old saying in philosophy.
To know the truth, ask "why" five times.*
* example:
1) Why is there declining resilience & growing Output Gaps? Inequality.
2) Why is there inequality? Biased incomes & taxes.
3) Why are there biased incomes & taxes? Biased policy.
4) Why is there biased policy? Grossly impaired feedback loops.
5) Why are there grossly impaired feedback loops? Neglected practice at democracy?
[It seems that we have constipated democracy.
It's backed up more than 5 steps!]
(This calls for more than just political_ExLaxPlus.)
(Our PolicyColon needs some DemocracyProBiotics, as systemic replacement therapy.)
(If Adaptive Rate is going to stay the same, everything must change - sooner.)
If it takes 700 pages to say "inequality" ... then we're going nowhere, as fast as Henry George did, 100+ years ago.
