David Graeber and Thomas Piketty on whether capitalism will destroy itself

Graeber wrote the magisterial Debt: The First 5,000 Years; Piketty, of course, wrote the essential Capital in the 21st Century -- in a must-read dialog, they discuss their differences and similarities and offer views on whether capitalism will collapse.

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Piketty's inherited-wealth dystopia: private capital millionaires multiply


Thomas Piketty's much-discussed economics bestseller Capital in the Twenty First Century prophesies a future where inherited wealth dominates the world, because the rate of return on capital outstrips the rate of growth in the economy, meaning the money your ancestors earned will always outstrip what you could earn. A new Boston Consulting Group report confirms Piketty's hypothesis, concluding that the share of wealth due to capital increased by 14% last year

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Marx's prescient predictions for the 21st century


In Rolling Stone, Sean McElwee enumerates five of Marx's predictions for late-stage capitalism that have largely come true in the 21st century, from globalization to the boom in luxury goods (what Marx called "imaginary appetites"):

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EXCLUSIVE: photos of BofA's new #OWS-themed ad campaign

I have no idea who shot these, or who is responsible. Update: here are some daytime shots, from the San Francisco Mission district.

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