An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
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Saturday, April 19, 2014
Tim Fernholz — Ten questions for Thomas Piketty, the economist who exposed capitalism’s fatal flaw
Piketty's graphs make it harder to ignore what countless people have deduced, for ages.
He also makes some honest comments about policy options - and politician courage - in Europe.
If experience is any guide, it may take another generation of more Piketty's before 10% of populations catch on, and start to dictate change again.
Long term, the message is that if we don't KEEP our electorate educated on ALL the growing # of "necessary_but_not_sufficient" insights ..... we get what we deserve.
I was recently listening to a Navy Admiral explain how massive the training tasks were to get an aircraft carrier operating adequately, and then how much harder it is to KEEP it functionally operational.
Piketty's graphs make it harder to ignore what countless people have deduced, for ages.
ReplyDeleteHe also makes some honest comments about policy options - and politician courage - in Europe.
If experience is any guide, it may take another generation of more Piketty's before 10% of populations catch on, and start to dictate change again.
Long term, the message is that if we don't KEEP our electorate educated on ALL the growing # of "necessary_but_not_sufficient" insights ..... we get what we deserve.
I was recently listening to a Navy Admiral explain how massive the training tasks were to get an aircraft carrier operating adequately, and then how much harder it is to KEEP it functionally operational.
That same issue applies to democracy, in spades!