Monday, April 14, 2014

Via The Guardian: Occupy was right: capitalism has failed the world

One of the slogans of the 2011 Occupy protests was 'capitalism isn't working'. Now, in an epic, groundbreaking new book, French economist Thomas Piketty explains why they're right
http://www.theguardian.com/books/2014/apr/13/occupy-right-capitalism-failed-world-french-economist-thomas-piketty?CMP=fb_gu
French economist Thomas Piketty, author of Capital in the Twenty-First Century. 'I am not political.' Photograph: Ed Alcock for the Observer

The École d'économie de Paris (the Paris School of Economics) is actually situated in the most un-Parisian part of the city. It is on the boulevard Jourdan in the lower end of the 14th arrondissement, bordered on one side by the Parc Montsouris. Unlike most French parks, there is a distinct lack of Gallic order here; in fact, with lakes, open spaces, and its greedy and inquisitive ducks, you could very easily be in a park in any British city. The campus of the Paris School of Economics, however, looks unmistakably and reassuringly like nearly all French university campuses. That is to say, it is grey, dull and broken down, the corridors smelling vaguely of cabbage. This is where I have arranged an interview with Professor Thomas Piketty, a modest young Frenchman (he is in his early 40s), who has spent most of his career in archives and collecting data, but is just about to emerge as the most important thinker of his generation – as the Yale academic Jacob Hacker put it, a free thinker and a democrat who is no less than "an Alexis de Tocqueville for the 21st century".
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