Thursday, June 26, 2014

Benjamin Kunkel on Piketty

Benjamin Kunkel, novelist and 'Marxist public intellectual' reviews Piketty. He seems to be mixing up second and third laws; otherwise at first glance it seems good to me. 
P.S. It seems to me that there is another possibility which technology and overcapacity allows that the reviewers are ignoring. One is a luxury and positional goods economy to which about 20 percent are so can aspire to (Cynthia Freeland has been writing about such an economy for the oligarchs). The bottom fifty percent will be slowly pushed down to subsistence level working for the global supply chains and forms of hard labour. And others in between aspiring to do well and voting making the process appear democratic.

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