By Thomas Piketty
The most motive force of inequality—returns on capital that exceed the speed of monetary growth—is back threatening to generate severe discontent and undermine democratic values. Thomas Piketty's findings during this formidable, unique, rigorous paintings will rework debate and set the schedule for the following new release of considered wealth and inequality.
Listen to Piketty talk about the booklet at the KPFA (Berkeley, CA) express Against the Grain
Read or Download Capital in the Twenty-First Century PDF
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Additional info for Capital in the Twenty-First Century
Sample text
Organized labour and left wing parties also regularly contested the neoliberalization of EC competition regulation, pushing the Commission to take employment levels into account when judging upon the effects of a merger on competition, however, without success. The Commission’s decision to approve the merger between ABB and Alstom in 2000 is illustrative in this regard. When a fifth of the workforce in the newly created entity faced redundancy, 2000 French, German, Belgian and Italian workers marched ‘for a social Europe and against the Commission because they felt that they had no voice in its competition policy’ (Erne 2008: 128, 154).
In other words, restrained real wages and increased consumer debt have facilitated a distributive shift and a dominance of money over production that are now proving impossible to rationalize. 1057/9781137002471 - Neoliberalism in Crisis, Edited by Henk Overbeek and Bastiaan van Apeldoorn 18 Bastiaan van Apeldoorn and Henk Overbeek The second part of this volume addresses the question to what extent we may witness a shift beyond neoliberalism at the level of world order, taking into account important geoeconomic and geopolitical developments that have been coinciding with, and in some cases intensified by, the global financial and economic crisis.
This demonstrates that rather than being a politically neutral supranational body, the Commission is a ‘strategically selective’ (see Jessop 2007) institution that systematically privileges certain ideas, strategies and actors over others. 1057/9781137002471 - Neoliberalism in Crisis, Edited by Henk Overbeek and Bastiaan van Apeldoorn 38 Angela Wigger and Hubert Buch-Hansen and promoted crude notions of free markets and free competition since the 1980s, and it continues to play a central role in maintaining the hegemony of the neoliberal discourse.