Piketty’s new book, “A Brief History of Equality,” is perhaps his most optimistic work. Piketty proposes a truly radical policy agenda — a universal minimum inheritance, worker control over the boards of corporations and “confiscatory” levels of wealth and income taxation — that he calls “participatory socialism.”
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For years, Thomas Piketty has articulated a cogent critique of 21st-century capitalism. He now appears to be moving beyond just critique to call for a 21st-century socialism.
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What makes this noteworthy is that it comes from an economist who gained his reputation as a researcher with vaguely left-of-center sensibilities but was far from a radical. The times are such that even honest moderates are driven to radical remedies
Moments of crisis provide opportunity to chart a new course, with the pandemic upending the global economy, this is the best time for the left in at least 90 years for political and ideological struggle...it is socialism or barbarism - so we must try
Piketty's radical and largely on-target critique of contemporary capitalism, the reviewer says, was mostly greeted with hostility by the economics establishment, when not simply ignored, stonewalling Capital in the Twenty-First Century, so it would not have the impact on economics research agendas that it merits, particularly in explaining inequality — in effect a dead zone in mainstream economic analysis. The reviewer thinks much can be gleaned from Piketty's work.
Rising inequality is largely to blame for this electoral upset. Continuing with business as usual is not an option. People have lost their sense of security, status and even identity. This result is the scream of an America desperate for radical change. People have a right to be angry, and a powerful, intersectional left agenda can direct that anger where it belongs. Thomas Piketty and Naomi Klein offer up interesting analysis.
Climate disruption is inextricably linked to economic inequality. Serious climate solutions must be, too.
The Vermont senator's success so far demonstrates the end of the politico-ideological cycle opened by the victory of Ronald Reagan at the 1980 elections. Piketty's doesn't see Sanders as following in the footsteps of Europe's social democratic models, but rather leading the United States toward a possible return to the nation's pioneering 20th century experiments with extremely progressive taxation and social spending.
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