georgephillip
Diamond Member
- Dec 27, 2009
- 43,773
- 5,206
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- #3,181
Capitalism's market slaves worship rich parasites regardless of the costs to productive society.The "tension" is the fact that democracy loots the capitalist system for its wealth. Democracy is fundamentally a parasite.
![https%253A%252F%252Fs3-ap-northeast-1.amazonaws.com%252Fpsh-ex-ftnikkei-3937bb4%252Fimages%252F_aliases%252Fsmall_250%252F3%252F0%252F5%252F9%252F5829503-1-eng-GB%252F20150213-piketty.png](https://www.ft.com/__origami/service/image/v2/images/raw/https%253A%252F%252Fs3-ap-northeast-1.amazonaws.com%252Fpsh-ex-ftnikkei-3937bb4%252Fimages%252F_aliases%252Fsmall_250%252F3%252F0%252F5%252F9%252F5829503-1-eng-GB%252F20150213-piketty.png?source=nar-cms)
"The way capitalism works, says Piketty, is that existing wealth earns a 5 percent rate of return, r.
"The total pool of labor income, meanwhile, grows at the rate of overall GDP, g.
"When r is larger than g the pool of wealth owned by wealth-owners grows faster than the pool of labor income earned by workers.
"Since r is usually larger than g, the wealthy get wealthier.
"The poor don't necessarily get poorer, but the gap between the earnings power of people who own lots of buildings and shares and the earnings power of people working for a living will grow and grow."
The short guide to Capital in the 21st Century