Re:Piketty's Three Big Mistakes
by jessaustin on Friday March 27, 2015 @01:06PM
(#9277554)
Neither Piketty nor anyone else wants to stop the process that creates Musks and Zucks and Brins. Surely we can agree, however, that these gentlemen live far, far down the long tail. Even though there is randomness built into the economic system, in most cases, capital increases rather than transferring to a random Stanford grad student's pockets. The story of Sergei Brin does not disprove, via "logic", "facts", or anything else, any thesis of Piketty's.
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Re:Piketty's Three Big Mistakes
by jessaustin on Friday March 27, 2015 @01:33PM
(#9277777)
You may; I have not. As I understand it, however, the bulk of the book comprises a historical documentation of and theoretical explanation for inequality. In conclusion he proposes various taxes and other transfers to reduce inequality. Although the history and theory seems plausible, I'm not completely sold on the effectiveness of the inequality measures, although I'm sure that you and Piketty have your reasons to disagree with me. I doubt much more that those measures would reduce the occurrence of M&Z&B, rather than just taxing them a bit more once they've done really well for themselves.
EDIT: It's unfortunate that the downvotes have chased 'logicallee from the arena. I have found that unwarranted downvotes have a way of correcting themselves, given a few hours on a lively thread.