Thomas Piketty On The Financial Times: ‘This Particular Debate Is Over’

I think that the biggest problem that we face is not whether “trickle down” economics worked or not, because it did, just not how they said it was going to. The problem is that the “trickle down” label was a Bait and Switch tactic to sell the policy to the American people . Instead we have to approach the issue the other way and that is how do we reverse this forty year old trend? Its beneficiaries are so very powerful and they are absolutely bent on keeping their status quo; no matter the cost to the rest to us. Social scientists have said that extreme wealth changes a person and not for the better; it makes them feel entitled and separates them emotionally from the general public, shuttering them into tiny self contained islands of singular awareness. They cease to see the world through other points of view and realities. I have been reading a lot about the sounding alarm over the disappearance of bio diversity and how damaging this disappearance is to our planetary environment’s health and well-being. I have extrapolated that theory to our economic health and its dependence on diversity; I would argue that a fragmented economy like it used to be during the age of small businesses made for the healthiest of economies. We started to see our economy become ill when the Walmartization of America came into being. We need to re-embrace economic diversity and establish diversity in every aspect of our lives.
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    1. Thanks James! That was a very good read. I have Noah’s book The Great Divergence on my want to read list. 🙂

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