Capital in the Twenty-First Century (Book Review)
As with my first attempt about 2 years back, I’m struggling to get through the whole book. The level of detail is great, but too much for me personally to get through. I will continue to the conclusions to see if I can find anything else that I want/should mention before writing down my notes.
In the end I did finish the whole book and found it a very interesting read/listen. Here are some pointers:
- Inequality is real and growing
- That by itself isn’t perse bad, but the consequences of it, and the position it brings a large portion of the population
- It’s poverty we don’t want to
have / wantto reduce,and to raise the living standards of millions. (also see Factfulness)
- Capital makes more money than wages ( r (rents) is greater than g (growth)). There really isn’t a way around it
Populationisn’t growing much in level 4 (developed) countries, and this will be the same the world around sooner than later
- Taxation of capital could be the way to go, but with taxation competition between countries, this is very unlikely to happen
- The 1% in terms of wealth is much richer than the 1% of income. Many (from memory 40%+) doesn’t really own anything. A very small percentage owns most
- And when talking about that small percentage, focus on the 1-5%, not the 0,0001%, they might have a higher relative percentage, but in terms of total influence, the former group is much more important
All right, these are my notes for now. I might add some more at another time.