piketty

Seminar on Jo Walton's Philosopher Kings novels

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Jo Walton (previously) is one of science fiction's great talents, a writer who blends beautiful insight about human beings and their frailties and failings without ever losing sight of their nobility and aspirations. Read the rest

Thomas Piketty on Thomas Piketty

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Crooked Timber's fascinating seminar on Thomas Piketty ran all through December, presenting arguments from economists, social scientists and political theorists from around the world on Piketty's seminal Capital in the 21st Century. Read the rest

Tax havens hold $7.6 trillion; 8% of world's total wealth

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Cass Sunstein reviews The Hidden Wealth of Nations, a new book by UC Berkeley's Gabriel Zucman; and a new documentary, The Price We Pay, both of which map out the scale of international tax-havens, which are used by criminals and corrupt one percenters to hide money from their governments; and by corrupt governments to hide money from their citizens -- the havens are a critical part of the secret, parallel US tax system that lets the rich pay less of their income in tax than the poor. Read the rest

Thomas Piketty seminar on Crooked Timber

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The Crooked Timber folks have assembled a distinguished panel to discuss Thomas Piketty's "Capital in the 21st Century, a must-read economics book (don't be scared by its brick-like appearance!). Read the rest

The more unequal your society is, the more your laws will favor the rich

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Political scientists and economists who've undertaken peer-reviewed research into policy outcomes have concluded that all over the world, and at every level of government, wealth inequality is correlated with corrupt policy-making in which politicians create laws and regulations that favor the rich at the expense of the wider public. Read the rest

Stephen Hawking: robots could give us all material abundance, unless rich people hoard all the wealth

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In a Reddit AMA, the eminent physicist warns that while increasing automation could give us a world of "luxurious leisure," that "most people can end up miserably poor if the machine-owners successfully lobby against wealth redistribution." Read the rest

Arbitration: how America's corporations got their own private legal system

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In 1925, the Supreme Court ruled that corporations of similar size and bargaining power could use arbitration, rather than courts, to settle their differences; today, corporations demand that customers and employees agree to use the arbitration system for redress of any grievances, while reserving the right to use the courts to attack humans who offend them. Read the rest

Postcapitalism: A Guide to Our Future

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Economist Paul Mason's blockbuster manifesto Postcapitalism suggests that markets just can't organize products whose major input isn't labor or material, but information, and that means that, for the first time in history, it's conceivable that we can have a society based on abundance.

Universities' tax-exempt giga-endowments spend more on hedge fund managers than on education

Growing wealth disparity has produced a new financial hyper-elite who make eight-figure donations to major universities, who hand that money back over to more finance titans in the form of special commissions that are taxed at a ridiculously low rate (making more zillionaire donors). Read the rest

1950s fashion from the cover of Life Magazine, 1914

In 1914, nudity was easy to imagine, but not gentlemen in public without hats. Read the rest

How Seattle's economic boom is destroying the city

Jeff writes, "While reading Cory's recent post about leaving London reminded me more of the unaffordable real estate in Vancouver, British Columbia, it resembles some of the dramatic effects of Amazon and other technology companies driving incredible growth and development here in Seattle. Read the rest

Brian Wood's Starve: get to your comic shop now!

Brian "DMZ" Wood's new comic from IMAGE is Starve, and issue one, which just hit shelves at your local comic shop is the strongest start since Warren Ellis's Transmetropolitan. Read the rest

The Subprimes: a novel of the Piketty/Klein apocalypse

The Harvard Business Review asked me to review Karl Taro Greenfield's magical econopocalypse novel The Subprimes, and I was delighted. Read the rest

Finance deserves its corrupt reputation

Harvard/Chicago economist Luigi Zingales published a sharply argued, searing paper about the finance industry's reputation for corruption and social uselessness, concluding that it's largely deserved and that academic economists have a role to play in reforming it. Read the rest

Piketty on the pointless cruelty of European austerity

The economist says that the US's post-crisis job creation record and the EU's lagging record demonstrates that austerity cripples recoveries. Read the rest

World War 3 Illustrated: prescient outrage from the dawn of the Piketty apocalypse

The Reagan era kicked off a project to dismantle social mobility and equitable justice began. This trenchant, angry, gorgeous graphic zine launched in response.

Grim meathook future, Singapore style

Charlie Stross's "Different Cluetrain" is a set of theses describing the future we live in, where capitalism not only doesn't need democracy -- it actually works better where democracy is set aside in favor of a kind of authoritarian, investor-friendly state. Read the rest

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