3 Comments

  1. Even if the data was accurate (which it is not) why blame “capitalism”? Most Western countries are about half socialist (the government takes up about half of output – and regulates what is left to bits) and are subject to massive credit-money expansion (backed by the government).

    Piketty (like so many “intellectuals”) has a habit of seeing things (whether they are really there or not) declaring them “bad” and then ASSUMING that “capitalism” is to blame for my baldness (or whatever).

    As for his proposed polices (hither taxes, more government spending, more regulations…..) it one wishes to see the results of such Galbraithian policies – visit Detroit (the “model city” of the Progressives from the early 1960s onwards).

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  2. I would expect the wealth gab to spread in a socialist system. Less and less wealth is being produced, so people on the whole get poorer and poorer. But then there are a few people who are able to put themselves on the right side of the redistribution scheme and they get incredibly rich. Look at North Korea. Kim and his family live in huge luxury while the people are starving. Huge wealth gab. Most socialists will never understand that their policies are crushing the poor and helping the rich. Except for their leaders. And they are socialists because they understand that and want to profit from it.

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