
Piketty on Capital and Reich on Inequality are both essentially saying the same thing, that inequality is structurally bad, and growing. (We can revisit posts on social mobility and the inevitability of capitalist collapse to understand some of the ways in which this manifests itself.) In essence, Piketty – and Reich – argue that capital will continue to accrue to fewer and fewer people. There is a possible alternative, extended, dystopian view that suggests that capital – through the corporation – actually transcends human ownership entirely and become a virtualized entity in and of itself, a creature of law, that exists to perpetuate itself and grow. Therefore, in essence, capital exists to extract wealth from people, and rather than realising an objective of ‘raising all boats’, it actually pushes all boats into the water to the point of sinking, though not quite. For to sink those boats would be to undermine the source of wealth itself, and the essence of capital growth, which capital needs to survive.
Continue reading “Capitalism, Meritoctatic Democracy, and Legitimacy”






