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Capital in the Twenty First Century

Book by Thomas Piketty · 9 quotes · Capital, Inequality, Economics

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Capital in the Twenty First Century Quotes

“Бідні наздоганяють багатих тоді, коли вони досягають такого ж рівня технологічних знань, кваліфікації та освіти, а не за рахунок перерозподілу власності.”

Wealth Education Poverty Knowledge Capital

Book:Capital in the Twenty First Century

Source: Capital in the Twenty First Century

“Cuando la tasa de rendimiento del capital supera la tasa de crecimiento de la producción y los ingresos, como lo hizo en el siglo XIX y parece muy probable que lo haga de nuevo en el siglo XIX, el capitalismo genera automáticamente las desigualdades arbitrarias e insostenibles que socavan radicalmente los valores meritocráticos en que se basan las sociedades democráticas.”

Poverty Inequality Capital

Book:Capital in the Twenty First Century

Source: Capital in the Twenty First Century

“Inequalities at the bottom of the US wage distribution have closely followed the evolution of thee minimum wage: the gap between the bottom 10 percent of the wage distribution and the overall average wage widened significantly in the 1980s, then narrowed in the 1990s, and finally increased again in the 2000s. Nevertheless, inequalities at the top of the distribution - for example, the share of total wages going to the top 10 percent -- increased steadily throughout this period. Clearly, the minimum wage has an impact at the bottom of the distribution but much less influence at the top, where other forces are at work.”

Income Inequality Distribution Minimum Wage Macroeconomics Gap Wage

Book:Capital in the Twenty First Century

Source: Capital in the Twenty First Century

“Our democratic societies rest on a meritocratic worldview, or at any rate a meritocratic hope, by which I mean a belief in a society in which inequality is based more on merit and effort than on kinship and rents. This belief and this hope play a very crucial role in modern society, for a simple reason: in a democracy, the professed equality of rights of all citizens contrasts sharply with the very real inequality of living conditions, and in order to overcome this contradiction it is vital to make sure that social inequalities derive from rational and universal principles rather than arbitrary contingencies. Inequalities must therefore be just and useful to all, at least in the realm of discourse and as far as possible in reality as well.”

Wealth Democracy Society Equality Income Inequality

Book:Capital in the Twenty First Century

Source: Capital in the Twenty First Century

“Capitalul nu este niciodată pașnic: el este mereu riscant și antreprenorial, cel puțin la începuturile lui; și, în același timp, are mereu tendința de a se transforma în rentă, din momentul în care se acumulează fără limită – este vocația lui, destinul lui logic.”

Book:Capital in the Twenty First Century

Source: Capital in the Twenty First Century

“All told, over the period 1932-1980, nearly half a century, the top federal income tax rate in the United States averaged 81 percent.”

Politics Money Business Economy Republican Taxes Democrat Greed Consumerism Taxation Capital Income Inequality Distribution Of Wealth Eisenhower

Book:Capital in the Twenty First Century

Source: Capital in the Twenty First Century

“Superior abilities... are the source of everything that is great and useful. Reduce everything to equality and you will bring everything to a standstill. One sometimes hears the same argument expressed today in the idea that the new information economy will allow the most talented individuals to increase their productivity many times over. The plain fact is that this argument is often used to justify extreme inequalities and to defend the privileges of the winners without much consideration for the losers, much less for the facts, and without any real effort to verify whether this very convenient principle can actually explain the changes we observe.”

Economics Income Inequality

Book:Capital in the Twenty First Century

Source: Capital in the Twenty First Century

“If you have free trade and free circulation of capital and people but destroy the social state and all forms of progressive taxation, the temptations of defensive nationalism and identity politics will very likely grow stronger than ever in both Europe and the United States. Note, finally, that the less developed countries will be among the primary beneficiaries of a more just and transparent international tax system.”

Taxes Taxation Global Economy Free Trade Piketty

Book:Capital in the Twenty First Century

Source: Capital in the Twenty First Century

“Protectionism does not produce wealth, and free trade and economic openness are ultimately in everyone’s interest”

Economics Free Trade Piketty

Book:Capital in the Twenty First Century

Source: Capital in the Twenty First Century