General Discussion

kristopher

(29,798 posts)

38. Marx was an economist.

Tue Apr 22, 2014, 09:58 AM

Apr 2014

I say that to point out that when you lump all economists together as you did, it's a bit of an injustice. That said, the reason capitalism is accepted by default might be traceable to two areas - the outcome of The Cold War, and the large body of research that confirms the effectiveness of capitalism as a means of raising living standards out of third world level poverty.

I don't think Piketty's findings come as a surprise to most people who are versed in policy or economics; the value of it (as I'm reading the discussions, I haven't read the book) isn't that it is revelatory but that it is a tight and well documented confirmation of what we believe to be true - the "free market" approach to capitalism is filled with substantial pitfalls that can be avoided.

You say "why NOT develop a better economic system?"

Do you have any suggestions?

My personal opinion is that mandatory voting aiming for 100% participation by adults is the single greatest step we could realistically take to fix the system; since a strong democracy along with an educated and politically involved populace are probably the areas we should look to for solutions.

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Why Economist Thomas Piketty Has Scared the Pants Off the American Right [View all] xchrom Apr 2014 OP

The American right has never been able to handle facts malaise Apr 2014 #1

... xchrom Apr 2014 #2

Nor does the American right have a clue about Marxism Fortinbras Armstrong Apr 2014 #35

I have long believed that corporate America malaise Apr 2014 #41

Oh, there are plenty of other people who have studied Marx -- and Lenin Fortinbras Armstrong Apr 2014 #105

Unfortunately the leaders have enough money that they don't have to handle facts hootinholler Apr 2014 #59

they can pay people to handle facts for them. TeamPooka Apr 2014 #66

This Yo_Mama_Been_Loggin Apr 2014 #69

Mostly, they can't handle the fact that they've been suckered Warpy Apr 2014 #104

at some point Sherman A1 Apr 2014 #3

The system throws sufficient bones at the workers quaker bill Apr 2014 #6

And Communism raised so much fear, massive armies were raised happyslug Apr 2014 #98

That would be the smart thing to do, but unreg-capitalism doesnt have a mechanism for that. rhett o rick Apr 2014 #13

Unsustainable? Indeed. Hence increased surveillance RufusTFirefly Apr 2014 #22

Agreed Sherman A1 Apr 2014 #47

George II dropped some subtle-as-an-anvil clues... Eleanors38 Apr 2014 #55

Looks like America's middle class voted itself right out of existence nikto Apr 2014 #90

The Frog and the Scorpion would seem to fit here. nt Jeff Murdoch Apr 2014 #26

throwing bones to the people demigoddess Apr 2014 #88

Name calling is all they have, so they resort to it right away. nt bemildred Apr 2014 #4

"Thats Communism" is always the R.W. dotymed Apr 2014 #5

The insane part of that is... bvar22 Apr 2014 #56

Even more insane is their policies breed communists/ revolution ErikJ Apr 2014 #65

Has anyone read the book? Victor_c3 Apr 2014 #7

Bill Moyers, interviewing Paul Krugman, said it was something most could read rurallib Apr 2014 #8

Library? seabeckind Apr 2014 #9

My copy should arrive this week malaise Apr 2014 #10

Library? mikeysnot Apr 2014 #14

I just finished the introduction and moving to the body of the work. mulsh Apr 2014 #34

Thanks Victor_c3 Apr 2014 #37

I bought it last week daleo Apr 2014 #97

What is Piketty's stance on fluoridation? Orrex Apr 2014 #11

What? How does that possibly connect to economics? Thor_MN Apr 2014 #27

It has to do with the the implication that he's a communist. Orrex Apr 2014 #36

I get it, after the precious bodily fluid comment Thor_MN Apr 2014 #87

It has to do with your hard-core commie plot to introduce impurities into our precious bodily fluids tclambert Apr 2014 #39

Ever seen Piketty drink a glass of water? Gidney N Cloyd Apr 2014 #49

No, but have you seen this? DearAbby Apr 2014 #75

Hmm... Gidney N Cloyd Apr 2014 #77

Unfettered capitalism The Wizard Apr 2014 #12

So when will they do it again? The bankster's extortion worked. The biggist heist in rhett o rick Apr 2014 #15

They are still doing it n2doc Apr 2014 #23

And partly the bankers are getting away with it because of the truedelphi Apr 2014 #83

I am thinking that Pres Obama might have been "encouraged" to hire Geithner and Bernanke. rhett o rick Apr 2014 #86

Were you able to type out your reply with truedelphi Apr 2014 #92

Well I think it's easiest to see in the area of intelligence. rhett o rick Apr 2014 #108

A friend of mine had some interesting comments. HooptieWagon Apr 2014 #48

I'm reccing, though articles like this always give me pause. Starry Messenger Apr 2014 #16

There has never been a true Marxist/Communism country, they are/were a tyrannical dictatorship mrdmk Apr 2014 #80

I'm not a liberal, so we'll have to disagree. Starry Messenger Apr 2014 #93

No Surprise - The Behavior Is Predictable cantbeserious Apr 2014 #17

are they really scared? hfojvt Apr 2014 #18

The majority of Americans didn't read Milton Friedman or Friedrich Hayek alcibiades_mystery Apr 2014 #32

but those philosophies bought their way in hfojvt Apr 2014 #40

I don't think it is necessary for all Americans to read the book but it is essential that those who jwirr Apr 2014 #50

Check the top two selling books here at Powell's in Portland! cascadiance Apr 2014 #101

and it's $25 in hardcover hfojvt Apr 2014 #106

They will listen once Obama is out of office. nt kelliekat44 Apr 2014 #19

The best demo of this is to try to stan a pyramid upside down. Maybe that can get through to the kelliekat44 Apr 2014 #20

Why are economist so enamored with capitalism? fasttense Apr 2014 #21

Marx was an economist. kristopher Apr 2014 #38

Yes, Marx was an economist. I should not have lumped all economist into one group. fasttense Apr 2014 #51

Ok kristopher Apr 2014 #54

It's hard to explain centuries of destruction caused by capitalism fasttense Apr 2014 #107

How do you think we could eventually get "an educated and politically involved populace"? Dawgs Apr 2014 #58

This message was self-deleted by its author kristopher Apr 2014 #81

It's a good first step. kristopher Apr 2014 #82

Mandatory Voting? Done only in countries where they go through the motions of voting happyslug Apr 2014 #100

That has nothing to say about what might be done here kristopher Apr 2014 #103

Marx was a Historian, his strength was connecting Economics with History happyslug Apr 2014 #99

Not really relevant to the discussion kristopher Apr 2014 #102

I think it's highly ironic when someone runs away from Marx....... socialist_n_TN Apr 2014 #24

I wonder if he does that because Marx is so demonized by the cult of A. Smith in the academic econ Ed Suspicious Apr 2014 #42

Obviously he distances himself from Marx Progressive dog Apr 2014 #45

Sad abelenkpe Apr 2014 #25

K & R !!! WillyT Apr 2014 #28

The irony is that the majority of these wing nut flame throwers grew up.... Trust Buster Apr 2014 #29

Exactly randys1 Apr 2014 #31

When the dolts wake up to our reality things might change randys1 Apr 2014 #30

Climate change ... or peak oil (already here) ... one or the other ... or a bit of each ... brett_jv Apr 2014 #71

You know what angers me the most randys1 Apr 2014 #78

I could have done without that image in my head xfundy Apr 2014 #33

The title of this piece is deceptive raindaddy Apr 2014 #43

Not solely because of the right - TBF Apr 2014 #46

A baseball comes crashing through your window... raindaddy Apr 2014 #52

I didn't say they hadn't TBF Apr 2014 #53

And rightly so - he tells it like it is. K&R nt TBF Apr 2014 #44

Sold out on Amazon currently PasadenaTrudy Apr 2014 #57

All the RW has to do is scream marxist... IkeRepublican Apr 2014 #60

True that!!! raindaddy Apr 2014 #62

Douthat and his tribe Tsiyu Apr 2014 #61

Freedom Fries will be on the menu soon, catered by the MSM and Wall Street. nt adirondacker Apr 2014 #63

I don't think Mr. Piketty is a flash in the pan vlakitti Apr 2014 #64

To many people, shrinking resources, global collapse. WHEN CRABS ROAR Apr 2014 #67

Malthus was wrong. So are you. Ed Suspicious Apr 2014 #70

Well that was quick, nothing to worry about, whee WHEN CRABS ROAR Apr 2014 #79

Is not the entire right-wing screed, ideology, mantra about a government of, by, and for the indepat Apr 2014 #68

The PROBLEM is the Dems are busy trying to convince the rich that an oligarchy is a "bad" thing... Spitfire of ATJ Apr 2014 #72

Douthat is a moron, almost as stupid as Maureen Dowd. (nt) Paladin Apr 2014 #73

It's no wonder that Millenials prefer socialism to capitalism by a slight margin eridani Apr 2014 #74

The current income inequality is not sustainable Gothmog Apr 2014 #76

Please remember that this guy is incapable of predicting the future. AngryAmish Apr 2014 #84

Well Then... Let's Consider The Past... Because We KNOW That THAT Worked... WillyT Apr 2014 #91

Post removed Post removed Apr 2014 #94

That's An Accusation... Which Does Not Enhance Discussion... And Leaves Nobody Enlightened... WillyT Apr 2014 #95

I live right dab smack in the middle maindawg Apr 2014 #85

"A rising tide lifts all boats" Curmudgeoness Apr 2014 #89

Trckle Down, still in vogue in Washington DC. blkmusclmachine Apr 2014 #96