An Introduction to Thomas Piketty's Capital in the 21st Century- A Macat Economics Analysis

So this guy wrote a book to tell us that if you make $100k a year but also have a $10 million inheritance invested in the stock market you will make more money than the other person who makes $100k per year but does not have a $10 million inheritance. Brilliant!

He is asking for a global Zakaat.

Finansla büyüyorsan gelir eşitsizliği artıyor, üretimle büyüyorsan azalıyor.

Finansla büyüyorsan gelir eşitsizliği artıyor, üretimle büyüyorsan azalıyor.

Of course Jane does better as she is accessing the power of compound interest. Joe needs to reevaluate his living expenses so he can save. I can't believe find this convincing at all.

Interesting.

The people who disagree with this book have never read the book or any book for that. It is one of the best economics study books I've ever read.

"the rich get richer because they are rich"
that's the central idea of his 900+-page best-selling, nobel prize-winning thesis??
- any one of us could have told you that money makes money. (and that that is the reason for exponentially compounding inequality)
wow.
plus, we ALL know the solution. (it's not some lofty realisation).
i.e. - to legislate the redistribution of surplus wealth back to those whose sweat and toil earned it for the parasite class in the first place.
hardly rocket surgery is it?
but, while these people have their fat academic salaries and cushy research jobs it'll be talk, talk, talk.
revolution, comrades.

Non stop talk about racial inequality without ever mentioning capitalism. It grinds my gears. This is ignoring the elephant in the room. I belive its by design.

It is always better to be unequally wealthy, than equally poor.

Countries that start that narrative are fighting for groceries in empty stores.

They basically want to punish the successful to reward the failure

So instead of trying to help the poorest by incentivizing investment and saving he just wants to handicap the well off and prudent by destroying wealth creation????? Truly the work of a leftist

No. Picketty's academic theory doesn't work. Too naive. Another man from the Ivory Towrr. Hefty inheritance tax is the most effective way to reduce the rich wealth. Tax also on earnings of the offshore tax haven accounts. Basically, strategies for the rich not to have lreways and loopholes. Higher income tax will not work. Progressive Inheritance tax works for certain. It discourages to accumulate wealth. They are imprompted to spend. Encourage them to spend on social projects. Then, allow tax reduction. Prof Picketty, I will lecture you!

WSU represent

Why not consider one thing that cannot be not done have a fiat financial system being backed by nothing more than you wanting to believe it has worth that someone wants you to believe and you ll decide if you do or not as currency which is not really a type of money has no real intrisic value of real wealth which is backed by something w the properties of scarcity convieniece and has longevity that doesnt and hasn t collapsed and completely fail period every fiat currency ever created and there have been many have been and then have been no more then some newly created fiat currency will try it all over again simple and sad

well done! Great video

what makes the poor get a better living?
if it is inequality... then let's do that,

Like Marx, Piketty’s analysis of capital in the author’s respective era is accurate. And both authors’ critiques of the capitalist system are fair. However, Piketty’s solutions to the inherent problems of capitalism are lacking in any substantive way. He suggests patching up capitalism through taxation on wealth, and making the system more equitable for the majority of the population. This does nothing in addressing the fundamental, and underlying contradictions in the capitalist framework.

In other words, Piketty is a communist who wants to dispossess the haves 🏡

Full of ignorance video.

Jane’s $10 million dollar inheritance probably comes from a long line of exploitative labor practices made possible by harvests from stolen land.

But the reason Jane inherited 10million is that the previous family members did not spend their entire income each year. why does the video say that Joe will never increase his saving unless he has a raise? then he would probably just keep spending all of that, instead of living on 50,000 and saving 50,000 so that he too could then make ROI each year and grow his savings. Which carried on over time would allow his family to pass on 10,000,000 to their daughter Jane

Pretty simple idea.

Ultimately though due to the antidemocratic structures of most governments, reform is intentionally impossible.

Constitutions must be rewritten, and it probably won't be bloodless...

Germany abolished their wealth tax. As they found it couldn't be effective without being harshly confiscatory.

I will be calling, emailing, and USPS Certified mailing these officials today through Friday.

Join me in writing and calling Vice President Pence, all Republican Senators, and the SCOTUS members telling them to support the election fraud investigations and back the US Representatives when they dispute the election on January 6th.

Let's be heard and document our intervention! Rallies and gatherings are great but direct communication is even mightier when it comes from hundreds of thousands of citizens!

Trump-Pence 2020!

Does capitalism reinforce inequality? yeah no shit, currently contemplating suicide from poverty

thanks for the video

Joe and Jane is a terrible example. Since it does not take into account the intelligence of the 2 parties or their ability to process new information or to adapt to it. If Joe is earning a £100 grand he must have some intelligence and if you have intelligence then you are going to be looking at ways to increase your advantage in the world not just through the income stream of getting a raise. If you are intelligent you will begin to ask the question why. Why is this happening to me and what can I do to change it. Joe will probably look at ways of increasing his wealth and standing not just through his job but other means as well either property, investments , marriage .Also the stock market can go up and down so Jane may lose money as well as gain from it. Joe has the most to gain here since if he is motivated he will be able to learn and adapt to new things that perhaps Jane might not be aware of. If you fast forward 10 years many things will have changed. This example assumes that neither party has curiosity or intelligence to look at or change their position or point of view over time

Taxing people is not equality. This stupid book and movie is propaganda of the left. Inequality is greatest in cities. Why where 80% support his book? Because they don't provide free land and hone to the homeless. They don't block private equity deals. This shit is just to enrich the government teacher class. Pseudo communism.

I'm gonna go ahead and say that most people are here because this book is so long and no one finished it. haha

So Jane and Joe made different decisions. Jane made the right ones and John didn't. So, we are going to punish Jane? and not only that, Joe won't improve his standard of living. The real winner is government, like always on socialist theories, no one wins except the government and politicians... And he won a Nobel for this? Daaaamn...

Piketty is good at critiquing capitalism but not at a solution. Read Marx, Engels and Lenin for the way forward. Socialism is the natural progression of Capitalism.

Recap:
Find a few million dollars to invest annually in the stock market.

Kinda obvious that capitalism sucks in america. It doesn't have to but like communism a few psychopaths get in power and corrupt everything.

I don't think there should be such taxes. People should be educated on how to invest and create assets that's all.

My four grandparents were all first generation Americans. Only one had a college degree. All were poor. All were able to achieve middle-class by age 40, by hard work. All of their children went to college. All started in middle class and all my cousins and my siblings and I have a higher standard of living than our parents. My children are all college educated, all have homes by age 30, 2 are working on advanced degrees. Nothing complex here. Hard work and education have led to the accumulation of wealth.

No one is leaving America to live in Europe. No one is leaving America to go to Russia or Venezuela. One can argue that through nationalization and socialism these countries have maximized "Equality!"

So why again do I want equality? Why would I inflict equality on my children? Work hard, make good choices in terms of who you marry, how many children you have and when (wait until 30) to think about having kids and you will decrease your chances of divorce and increase your lifetime earning potential.

Work hard!

I knew people growing up who didn't work hard. They played hard. When the government handed them welfare money they were incented not to work hard.

America has become the greatest place for personal advancement in the world as a result of freedom of opportunity, not freedom of outcome!

Piketty needs to explain a lot more than his model. He needs to justify the confiscation of personal property in the form of wealth tax. This has been tried numerous times and ends up driving out the most innovative and positive aspects of an economy, namely the entrepreneur (don't think the French have a word for that).

IKEA is a Swedish company right? Wrong, they left Sweden when Sweden implemented similar ideas to Piketty's but back in the 1960s and 1970s. Companies exited the US at record pace under Obama for similar reasons. Wealth doesn't have barriers to leaving the country and taking 100s of thousands of jobs with that wealth.

Picketty's insight was widely panned by scholars for

A. Not describing why inequality is a bad thing
B. Ignoring the fact that 1.6 billion people have moved from poverty to the middle class in the last 40 years from moving from socialism to market economies
C. His model when applied to his data doesn't even predict the 1950s -1980s.
D. He ignores the data that is in his addendum and online (that he used to build his model) shows wealth as unstable! There is churn in capital maintainable that he just eliminates (cherry-picking the data.

Not sure why MACAT or anyone would be praising this book?

Yes but what is better? Socialism, Communism? No. Those are far worse and have far bigger divides between rich and poor. Also it is a bad example to say, one person has 10 million, other person has nothing.. obviously money makes money.

It doesn't go far enough to account for the uniquely extravagant qualities of wealth which have come about only recently as a result of technology. While I have not delved deep into this particular argument, it seems that most discussion of anything tangential to this focuses solely on the fact that inequality exists without attempting to explain any of the immense intricacies of the resulting system.


This all reads like pseudo intellectual gobbley-goop, but the point I am making is that a certain naivety of the effects of wealth seems to be some sort of social mandate.

what is the problem with rich people?
the fact that they are rich is not the cause of the poor. the enonomy in not that simple.

So, Lecture Future Crisis No. 4: Bank Banking - What Will We Leave For Our Children? The collapse of the entire market economy and the financial system of the world. Devaluation - Dollar. Imagine Bankrupt of All Banks of the World - How Many People Will Affect Staff Investors, Customers.The scenario of the development of events and consequences. Introduction - All Data is Based on Figures and Naturally, On the Analysis of History. Having analyzed: All Crises In a row ,. Military Actions Around the World. To understand - what country at what time - quickly got up - on her feet financially, economically, psychologically.



World - All Countries of the World - Sorry! This is the Initial Model of the USSR from 1945 to 1970!



Beginning of the Future Crisis (Stone Age) - 1 Sign - Bank Collapse. 2 Cash Out. 3 Financial and Economic Institutions Nothing to Do - Could Not! Warren Buffett's words: "All the Banks - Played Over!" Yes exactly! Banks - Financial Needle! % Accrual System - Doesn’t Take into account Errors: From Inflation - Planet Resources, Natural Disaster, Human Factor, Elementary - Dollar Jumps on the Exchange Every Day - And% Accrual System - Same Stable - How ?, ... Hundreds, Thousands Factors!



In 2008, Spruce Economy Restrained by 1 Industry - Real Estate - Oversupply!



Friends Oversupply - In All Economic Financial Industries! List of Industries I will Provide later. After - Sorting and Selection - Strategically Important for the Country and Competent Redistribution of Current Resources Between Industries: Equipment, Production, Administrative, Squares, ...



All - The World is Tied to the End Currency (US Gold Reserve Relation to the Current Moment 1 Dollar = -10000 Dollars Lecture No. 3, I will leave it at the end).



What is happening now in the financial and banking sector of the world? This:



1 Industrial and Commercial Bank of China (ICBC) Assets: $ 4,009 billion. China.

2 China Construction Bank Corporation Assets: $ 3,400 billion. China.

3 Agricultural Bank of China Assets: $ 3,235 billion. China.

4 Bank of China ltd Assets: $ 2,991 billion. China.

5 Mitsubishi UFJ Financial Group Assets: $ 2,780 billion in Japan.

6 JPMorgan Chase Assets: $ 2,533 billion.

7 HSBC Holdings plc Assets: $ 2,520 billion. UK (England)

8 BNP Pariba Assets: $ 2,357 billion France.

9 Bank of America (BoA) Assets: $ 2,281 billion.

10 Crédit Agricole Assets: $ 2,117 billion France.

11 Wells Fargo & Co. US $ 1951 billion

12 Japan Post Bank Japan $ 1,874 billion

13 Citigroup US $ 1842 billion

14 Sumitomo Mitsui Financial Group Japan $ 1,775 billion

15 Deutsche Bank Germany $ 1,765 billion

16 Banko Santander Spain $ 1,736 billion

17 Mizuho Financial Group Japan $ 1,715 billion

18 Barclays Plc England $ 1,532 billion

19 Societe Generale France $ 1,531 billion

20 Groupe BPCE France $ 1512 Billion



Here you have the Countries by Rating - Disasters! SOS!

@, EuropeanUnion, Japan, UnitedKingdom, Germany, Spain, - Hands Shake When I Write This! China - Generally Calm! And here the USA - Will Hold - Until the Last. And lie!



A list of countries by the number of banks included in the “top 100 by total assets".



Rating Country Number of banks in the top 100



European Union 36

China 18

USA 12

Japan 8

France 6

Great Britain 6

Canada 5

Germany 5

Spain 5

Australia 4

Brazil 4

South Korea 4

Sweden 4

Italy 3

Netherlands 3

Singapore 3

Belgium 2

Switzerland 2

Austria 1

Denmark 1

India 1

Norway 1

Russia 1

Taiwan 1



Dear Ukraine! The Main Sign of Inflation - Remember This Date Forever - It's Already 6 Monetary Inflation - The Same Rake! - The National Bank of Ukraine from September 25, 2019 gave banks the right to round off cash transactions in connection with the withdrawal of cash of small denominations of 1, 2 and 5 cents from cash circulation. When Will We Learn To Correct Our Mistakes? So Souls Suffered! No - Greed, Pride, All In Its Mouth! Tear up Baby! Greed Fraera Destroy!



Decision:

1. Refusal of the Old Economic, Financial, Banking System of the World. Development - New Observing Interests of the Planet, Children, Animals, People! Considering the Latest and Planned Future Technologies.

2. Properly, Correctly, Distribute Existing Resources of Countries, Planets, Continents. Taking into account the Crisis!

3. Entering the Arena of 5 International Currencies - Not Subject to Inflation, Default, Crash!

4. The New System of State Enterprises - Strategic Industries - Property of Residents of the Country. 30% - DEVELOPMENT OF OWN PERSONNEL, 30% - NEEDS OWN PERSONNEL, 30% - PRODUCTION, 10% Management Board 40 people For managing this enterprise.



This is Only 1 Industry - Banks.

P.S. - May the Lord Protect you All! Save And Save You All May It Be So! In the Name of Our Lord Jesus Christ the Holy Spirit Amen 8 Times!

There is so much wrong with this analysis that it hurts:


1. There is no consensus from economist that think capitalism reduces inequality over time. That is a made up claim
2. Why is Jane and Joe not saving? Inheritance are rare even among the middle upper class to higher upper class. The illustration assumes that both of them are financial idiots. I'm surprised Jane didn't spend her inheritance, which is almost always the case for those who inherited the wealth.
3. Return on capital is included into a country's economic growth depending on how you did the measurement. This is a problem with Piketty's research because he tend to exclude many factors that would have otherwise be apart of what constitute "economic growth."

One sobering fact in the book.
Bill Gates(founder of Microsoft, ranked as the richest man in the world at least one tome or another) is making more money today after he retired by investing the money than the money he was making as a CEO of the company.
He also points out another example of this by showing how the larger universities(larger capital, Piketty uses the word, "endowment") make more money than smaller universities by investing it(as much as 2x).

In today's system, money creates more money. If you are rich today, the system(capitalism) demands you to be richer tomorrow.

The opposite is true also, if you are poor or doing ok, the system demands you to be poorer tomorrow,

The world resource, the capital, are finite. You don't create wealth out of thin air.
You skim the wealth from other people.
You just don't notice when the economy becomes so large.

It's natural, the conclusion of capitalism is inequality.
There's no other way around.

Old news Marx knew it all along.

the rich thinks the poor is jealous of the rich's money. that may not be so. The moment your money is making my life more difficult would make me upset. you can invest your money in tons of thing, and the increase price can affect my life. you invest your money aboard and take away my job. with your money you can invest into a certain politician and help to elect him and change my life and get my country into wars and the poor will pay with their life, so maybe you a petroleum company. And help global warming , damage the wild life, the ocean life, and tons and tons of other reason someone can think of. this is when your life endanger the life of others. a workers income might change from 30K to 50K, but the rich could change from a billion to trillion. you do not see anything in the universe with no law, therefor, money has to bee given a law.

Anyone negating the power of Capitalism in creating prosperity is a foolish