Re:The top 10% owns 87% of the stocks
by dpc050505 on Monday March 03, 2025 @05:35PM
(#43247684)
The French revolution happened because real wealth was basically left untaxed, leaving an enormous tax burden on everyone that wasn't nobility. The situation was not unlike what Piketty described to win his nobel prize.
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That is also one of the many causes of the French Revolution, but on its own isn't enough to explain why it went down exactly how and when it did.
Had the runway to bankruptcy been longer, a more decisive king than Louis 16th might have managed to successfully reform the state without it being shattered.
Perhaps the crisis wouldn't have landed at the same time as weather-driven economic downturn.
Maybe if it had been a few years later, different people would have gotten into power and Brissot wouldn't have started a disastrous war with Austria that spiraled everything out of anyone's control.
Or any number of other scenarios.