Capital in the twenty first century,Thomas Piketty


1 2 3 ….

isbn: 9780674430006 is described by lees brainy people as huge, it s 600 page, which contains the main event.  So not a  huge book.

Pikety admits his data is is imprecise, but also acknowledges that Malthus (my blog)  and marx did not do data, or account for technological progress or that some people think that Hubbert’s (my blog) scarcity thing will eventually prove to be right*

It is a rounded book with a discussion framed on Jane Eyre, and some french authors i have not read and it notes that the world wars and agricultural land values have turned those wealthy before it as not as well off although technology has made farming efficient   Death to is getting extended so a reduction in labour rates is partly down to globalisation.

The rise of the english speaking super manager (my blog), and the question is raised is a Chinese billionaire actually able to switch currencies and with the rise of capital investments some after being nationalised by governments and badly run – British railways, water companies etc.  The euro area also wreaks economic data and allows banks to speculate after advising them that the weaker countries where stable.   There is a lot of gambling going on by those banks.

Sovereign funds also get mentioned and owning x might be fine, there is a level where those doing it feel threatened, so if wages collapse governments would no choice but to tax capital, and help there government debt level seem to be ‘in control’. So in a way the speculators behaviour might cause them problems after all if war is expensive** (my blog) then clearly bankers,free trade types and economics types would be against the recent Iraq and Afghanistan campaigns on grounds of debt.

An interesting place to think  4/5 bananas better for the more complex economic examples.

* although when – dates of the ‘end’ started in 1950 and how technology will mitigate it – put another way a modern car goes further with one litre of petrol than it did ten years ago, electric cars also exis, mrs ford had one in 1910. ** Thought even to have had an effect even in Russia as a communist state on its economy.

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