Timmy elsewhere

At the ASI.

On Thomas Piketty’s latest bright idea. He’s found a new reason fort inequality to rise: the implication of which is that the compression of inequality last century was not for the reasons usually thought.

3 thoughts on “Timmy elsewhere”

  1. Tangentially it seems obvious that the wealth:income ratio post WWII is increasing, because we are no longer blowing our wealth or other peoples’ wealth up. (With notable exceptions in middle-eastern hellholes).

  2. “The wars and depressions between 1914 and 1950 dragged the wealthy back to earth.”
    Post 1950 is the whole period of progressive, redistributive politics. Hasn’t it done well!
    “the Great Depression destroyed fortunes through capital losses and bankruptcy. ”
    And for the last 4 years they’ve been destroying working peoples lives trying to avoid capital losses & bankruptcies.
    Don’t know about “back to earth”. Currently altitude sickness is rife..

  3. Indeed, wars are very good for material equality: they kill the poor and loot the rich. Of course, it’s true that a very small number of the rich get even richer, but their reward is to end up hated by the whole of the rest of society, rich and poor alike, so that just boosts social solidarity even further.

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