L'Obvs: "It's time to go beyond capitalism"
September 14, 2019 5:23 AM Subscribe
Economist Piketty's latest book a 1,200 page tome about abolishing billionaires - "The new book, called 'Capitalism and Ideology', tops 1,200 pages and delves into the political ideologies behind income inequality, while providing radical solutions for reversing the world's wealth disparities." (previously)
His new book focuses on economies outside the West, with references to India and China and analyses of communist, colonial and slave-owning economies, according to Bloomberg. It also explores the ideologies behind inequality, challenging the notion that the growing concentration of wealth in the U.S. and elsewhere represents a natural state of affairs, the publication added.some 'wealth creator' critiques :P
The solutions suggested by Piketty in his newest doorstopper would upend the current capitalist system, where corporate boards are largely composed of wealthy, well-connected shareholders, and taxes on capital are lower than on income. His proposals, according to The Guardian, include:
- Half of the seats on company boards should filled by employees.
- No shareholder should have more than 10% of a company's voting power.
- Taxes as high as 90% on the wealthiest estates.
- A lump-sum investment of $132,000 provided to everyone when they turn 25 years old.
- A personalized carbon tax that would be based on an individual's contribution to climate change.
- Influential Thomas Piketty is back - and more dangerous than ever - "It was, without question, the most influential book on economics of the past decade, and perhaps on any other subject as well."
- Thomas Piketty Jumps the Shark - "The French economist's new book is meant to jolt the global left out of its ideological stupor. That's the only way to make sense of it."
- How Showbiz Swallowed Democracy - "An essay by Stephen Marche about the transformative power of celebrity politics, and how entertainment endangers democracy across the English-speaking world."
- Liaquat Ahamed: The Rich Can't Get Richer Forever, Can They? - "Inequality comes in waves. The question is when this one will break."
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