Amidst all of the discussion about Thomas Piketty’s Capital in the Twenty-First Century, which describes how inequality will continue to rise, this is an issue I haven’t seen raised, but, snark aside, seems rather important:
This might not be a problem, were it not that capital is increasingly owned by shitheads. No doubt Piketty’s capital/income ratio was on the high side in Tsarist Russia and medieval Florence, and they invented Tolstoy and the renaissance.
Are such people going to emulate Lorenzo the Magnificent and sponsor artists and scholars? Or is it more likely that they will order up fine wines and pour them over their bell-ends, howling with mirth while the planet goes to hell? Piketty fails to address this question.
It simply isn’t sustainable that so many of the world’s resources are controlled by people with the cultural level of baboons.
Kidding aside, to me anyway, much of the discussion has neglected who has acquired all this wealth. Is the enrichment of the Walton Clan in the national interest, economic and otherwise?