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Why We’re in a New Gilded Age by Paul Krugman

Why We’re in a New Gilded Age by Paul Krugman
Capital in the Twenty-First Century by Thomas Piketty, translated from the French by Arthur Goldhammer Belknap Press/Harvard University Press, 685 pp., $39.95 Thomas Piketty, professor at the Paris School of Economics, isn’t a household name, although that may change with the English-language publication of his magnificent, sweeping meditation on inequality, Capital in the Twenty-First Century. Yet his influence runs deep. It has become a commonplace to say that we are living in a second Gilded Age—or, as Piketty likes to put it, a second Belle Époque—defined by the incredible rise of the “one percent.” The result has been a revolution in our understanding of long-term trends in inequality. It therefore came as a revelation when Piketty and his colleagues showed that incomes of the now famous “one percent,” and of even narrower groups, are actually the big story in rising inequality. Still, today’s economic elite is very different from that of the nineteenth century, isn’t it? Why? Related:  Red-HotThomas Piketty

Why the Worst Get on Top -- in Economics and as CEOs FDR On American Facism(image by JoeInSouthernCA) Reprinted from Libertarians are profoundly anti-democratic. The folks at Cato that I debate make no bones about their disdain for and fear of democracy. "[W]hen government uses its legal monopoly on coercion to confiscate one person's property and give it to another, it is engaging in what would normally be called theft. But von Hayek's critique of democratic government has proven to be the most monstrous blood libel of the post-World War II era -- falsely declaring that democratic government must end in tyranny and the mass murder of its own people. "The political scientist Herman Finer " denounced [The Road to Serfdom] as 'the most sinister offensive against democracy to emerge from a democratic country for many years.' Why the Worst Get on Top -- in Economics Economists claim that their work should be evaluated based on predictive success. Why von Hayek and Milton Friedman are the Patron Saints of Plutocracy

Kapital for the Twenty-First Century? Kapital for the Twenty-First Century? Thomas Piketty, 2011 (Parti Socialiste du Loiret/Flickr) Capital in the Twenty-First Century by Thomas Piketty, trans. Arthur Goldhammer Belknap Press, 2014, 671 pp. What is “capital”? Early in the last century, neoclassical economics dumped this social and political analysis for a mechanical one. Symbolic mathematics begets quantification. Although Thomas Piketty, a professor at the Paris School of Economics, has written a massive book entitled Capital in the Twenty-First Century, he explicitly (and rather caustically) rejects the Marxist view. His approach is in two parts. This, I fear, is a source of terrible confusion. So what happened? The evolution of inequality is not a natural process. Piketty goes on to show that in relation to current income, the market value of capital assets has risen sharply since the 1970s. But he isn’t measuring physical volumes, and his formula does not explain the patterns in different countries very well. James K.

Pisces Horoscope Pisces Horoscope for week of June 20, 2013 For over three decades, a man in Assam, India has worked to build a forest. When Jadav "Molai" Payeng started planting and tending seeds at the age of 16, the sandbars bordering the Brahmaputra River were barren. Today, almost entirely thanks to him, they're covered with a 1,360-acre forest that harbors deer, birds, tigers, rhinos, and elephants. According to my analysis of the astrological omens, you could launch a comparable project in the next 12 months, Pisces -- a labor of love that will require your persistent creativity and provide you with sanctuary for a long time. Listen to my IN-DEPTH, LONG-TERM AUDIO FORECAST for your life in the coming months. Where are you likely to find most success? The in-depth, long-range Expanded Audio horoscopes cost $6 apiece if you access them on the Web (discounts are available for multiple purchases), or $1.99 per minute if you want them over the phone.

Monsanto Hides Toxicity RoundUp Results, Calls them Secret Talking about Monsanto’s latest attempt to obstruct justice, halt transparency, and prevent people from stopping their seed and herbicide businesses from spreading is starting to seem redundant, but the company just keeps acting in increasingly objectionable ways. Now, the company is refusing to release to the public lab tests conducted in St. Louis, Missouri, which gave them authority to use glyphosate in China. Just months ago, Chinese food safety volunteers tendered a request to China’s Ministry of Agriculture to release the study that justified issuing the safety certificate for the import into China of Monsanto’s glyphosate-based herbicide RoundUp. Glyphosate was given a safety certificate in 1988 after studies submitted by Monsanto were conducted at Younger Laboratories in St. The test was meant to be an acute exposure toxicity test in which rats were given RoundUp by mouth for several days, and rabbits were exposed to RoundUp by skin.

On Piketty and definitions. ‘Financial capital’ is not the same thing as ‘physical capital’ (two graphs) The discussion about Piketty is getting messed up. The vagueness of economic parlance allows people to accuse him of mistakes he doesn’t make. The meaning of the word ‘capital’ is a case in point. Over the course of history, capital accumulation [physical capital, M.K.] has yielded growth in living standards that people in earlier centuries could not have imagined, let alone predicted — and it wasn’t just the owners of capital [financial capital, M.K.] who benefited. That’s right. Financial capital is of course another kind of technology – a market economy without ‘payables’ and ‘receivables’ is inconceivable. For some idea about the different growth rates of financial and physical capital see below, source: Centraal Bureau voor de Statistiek. Update: The sun was shining.

Que faire de ce que nous apprend Thomas Piketty sur Le capital au XXIe siècle En effet, en France, en 2013, le 1 % le plus riche détient 25 % du patrimoine total du pays |3|. Au Royaume-Uni (R.U.), il détient 30 %. En Suède, 20 %. Aux E.U., 32 % |4|. Si on inclut la part dissimulée de la richesse dans les paradis fiscaux Paradis fiscauxParadis fiscal Territoire caractérisé par les cinq critères (non cumulatifs) suivants : (a) l’opacité (via le secret bancaire ou un autre mécanisme comme les trusts) ; (b) une fiscalité très basse, voire une imposition nulle pour les non-résidents ; (c) des facilités législatives permettant de créer des sociétés écrans, sans aucune obligation pour les non-résidents d’avoir une activité réelle sur le territoire ; (d) l’absence de coopération avec les administrations fiscales, douanières et/ou judiciaires des autres pays ; (e) la faiblesse ou l’absence de régulation financière. La Suisse, la City de Londres et le Luxembourg accueillent la majorité des capitaux placés dans les paradis fiscaux. Tableau 1. Tableau 2. Tableau 3.

Interne Kommunikation: Wie der BND die “Weitergabe von Rohdaten in großem Umfang” an die NSA verheimlicht Rechtsfreier Raum: Abhörstation in Bad Aibling. Als der Bundesdatenschutzbeauftragte den BND fragte, wie viele Daten er an die NSA übermittelt, war die Antwort: „580 Meldungen“ im Jahr 2012. Tatsächlich werden aber 1,3 Milliarden Metadaten übermittelt – jeden Monat. Das geht aus interner Kommunikation des Geheimdiensts hervor, die wir veröffentlichen. Letzte Woche berichtete Kai Biermann auf Zeit Online: BND-Spionageaffäre: BND liefert NSA 1,3 Milliarden Metadaten – jeden Monat. Seit dem Sommer von Snowden versuchen vielerlei Institutionen, etwas Licht ins Geheimdienst-Dunkel zu bekommen, darunter auch der/die Bundesdatenschutzbeauftragte. Aber auch schriftliche Anfragen an den BND hat die Datenschutzbehörde gestellt, so beispielsweise zwei im Juli und eine Anfang August 2013. Bundesdatenschutzbeauftragter: „Wie viele Daten an USA übermittelt? Wurde vom BND belogen: Ehemaliger Bundesdatenschutzbeauftragter Peter Schaar. BND-Abteilung Technische Aufklärung: „580 Meldungen an USA in 2012″

Can-an-Economists-Theory-Apply-to-Art Photo Thomas Piketty is a name on a lot of people’s lips at the moment. The French economist’s new book, “Capital in the Twenty-First Century,” is a historic survey of wealth concentration that has quickly become a go-to text for the gathering debate on income inequality. In his book, published in English last month, Mr. Piketty argues that the rich are only going to get richer as a result of free-market capitalism. The reason, according to Mr. Although art is one of the few subjects not mentioned in the index of Mr. Courtesy of the above-growth returns identified by Mr. “This is well beyond the norms of inflation,” said Ivor Braka, a London dealer who has been buying and selling high-value art since 1978. Using what he calls the “careless and piecemeal” data of wealth reports, Mr. Back then, the rich were also spending a lot of money on art. In those days, heads of state and industrialists were throwing their money at art. “Do they have taste?” As Mr. According to Mr.

A quoi ressemblerait une filière nationale du cannabis? Faut-il dépénaliser le cannabis? Vincent Peillon, ministre de l'Education nationale a remis la question dans le débat, dimanche 14 octobre 2012, sur France Inter. publicité Cette prise de position vient après celle, en juin, de la ministre du Logement. Cécile Duflot, qui s'exprimait «en tant que secrétaire nationale d'Europe Ecologie Les Verts» (et non comme ministre du gouvernement Ayrault), s'était prononcée en faveur de la dépénalisation chez Jean-Jacques Bourdin, le 5 juin 2012 sur RMC. Daniel Vaillant, auteur d'un rapport préconisant également la légalisation du cannabis en juin 2011, était l'invité de France Inter le 6 juin: Daniel Vaillant par franceinter L'occasion pour lui de rappeler quelques chiffres: «Est-ce que la lutte est contre le cannabis est une réussite? Jean-Marc Ayrault avait répondu en juin, sur TF1 que la dépénalisation «n'est pas à l'ordre du jour». Production Ainsi, 60% du cannabis consommé en Grande-Bretagne est désormais produit sur place. La qualité du produit

Rauchen ist gesund! | Internationale Politik und Gesellschaft - IPG Die Vereinigten Staaten und die Welt führen derzeit eine große Debatte über neue Handelsvereinbarungen. Derartige Verträge wurden früher als „Freihandelsabkommen“ bezeichnet; tatsächlich waren es gelenkte Handelsvereinbarungen, die auf die Interessen der Konzerne vor allem in den USA und der Europäischen Union zugeschnitten waren. Heute werden derartige Vereinbarungen häufig als „Partnerschaften“ bezeichnet – wie etwa im Falle der Trans-Pazifischen Partnerschaft (TPP). Es ist unschwer erkennbar, warum. Der vielleicht unfairste – und unehrlichste – Bestandteil derartiger Übereinkommen betrifft den Investorenschutz. Die wahre Absicht dieser Bestimmungen besteht darin, Gesundheits-, Umwelt-, Sicherheits- und sogar Finanzaufsichtsregeln auszuhebeln, die Amerikas eigene Volkswirtschaft und Bürger schützen sollen. Dies ist keine bloße theoretische Möglichkeit. Philip Morris verklagt derzeit Uruguay und Australien, weil diese Warnetiketten auf Zigarettenschachteln vorschreiben.