An Introduction to Thomas Piketty's Capital in the 21st Century- A Macat Economics Analysis
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Thomas Piketty’s Capital in the 21st Century is the most influential recent work in the field of economics. This short video from Macat explains the key ideas in the work in only a few minutes. Macat’s videos give you an overview of the ideas you should know, explained in a way that helps you think smarter. Through exploration of the humanities, we learn how to think critically and creatively, to reason, and to ask the right questions. Critical thinking is about to become one of the most in-demand set of skills in the global jobs market.* Are you ready? Learn to plan more efficiently, tackle risks or problems more effectively, and make quicker, more informed and more creative decisions with Macat’s suite of resources designed to develop this essential set of skills. Our experts have already compiled the 180 books you feel you should know—but will never have time to read—and explained them in a way that helps you think smarter. Dip in and learn in 3 minutes or 10 minutes a day, or dive in for 3 hours, wherever you are on whatever device you have. Get your journey started into the great books for free: www.macat.com Get a report on your critical thinking skills at no cost: www.macat.com/ct-study Find out more about critical thinking: www.macat.com/blog/what-is-critical-thinking *Source: WEF report Jan 2016 – “The Future of Jobs report”
Comments
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Ended up here after reading 200 pages of this book and not understanding a thing. I feel so dumb, it's probably because I just began economy classes.
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thank you soosososososos much!!!!!!!!!
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Economic theory always seems to over-complicate what happens in our everyday lives in terms of our financial well-being. It is refreshing to see Thomas Piketty in his book, "Capital in The Twenty-First Century," reversing that trend in an audacious attempt at equality by over-simplifying.
Simpletons around the world thank you for this easy to understand correction. Oh by the way wonder why Piketty didn't taken into account where jobs come from in his model if not "r"?
Wonder why Piketty didn't account for redistribution to poor via taxes?
Wonder why he didn't baseline against say Russia or any socialist countries data in terms of his model.
Wonder why he only looked at equality? Instead of total lifestyle impact. Still Hollywood types, media elite,man those who have never had a macro econ course will find Piketty's Propaganda a welcome addition to the regular fair provided by Paul Krugman. -
So capitalism increases financial inequality. So what? As long as everybody's prosperity rises (even in the lower income classes), what's the problem with rising inequality? The only answer that I can think of is: jealousy.
"Poor" people nowadays have higher standards of living than the richest man on the planet had 2000 years ago. Even the emperor of Rome didn't have what we have today, in terms of communication, information, medicine, or transportation. It's capitalism that fueled much of this progress. -
Oh well done.....you have helped a simple chap understand this in a simple way.
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My god this video is ridiculous. So to help the poor, a world body should take money away from rich people? How exactly does that help the poor? Why would rich people do the things that they do in order to make themselves rich if a world government body is just going to take what they earn over a certain amount? Who in their right mind would trust a government to take your money and do anything with it other than enrich themselves and blow it on stupid crap? Why is it that people think business people are evil thieves but politicians are angels?
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uh okay is it just that this video is for stupid people or is the entire book? Does this book actually contain anything useful for Marxists who know anything about anything? Doesn't seem so to me, in that case this book has a very unfortunate title it doesn't deserve.
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The brilliant minds in the comments section would probably do best to actually study the issue before expressing an opinion.
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This is Das Kapital!
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I want someone to explain to me how Jane making money from investments hurts Joe? Now forget the inheritance. Pretend Jane makes 50% more in 10 years and Joe makes 20% more in 10 years. Their income gap has grown, but they both make more. How is Joe hurt by this? It would seem Joe is actually doing better after 10 years. Not as well as Jane, but that in no way means he is not still doing better than he was. If I'm wrong, I'd like it explained to me.
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This is such nonsense. At the very beginning with the graphic, it shows that they think the economy is a zero sum game, which it's not. Then Jane gets 10 million in an inheritance, which is really rare and unusual to begin with. Then it assumes that her investments are all perfect which is also rare and unusual. Bad investments happen all the time and people lose the money they invested. Then it also never says how Jane making money from investments hurts Joe. It doesn't. It just tries to make you feel sorry for Joe just because Jane had a rich family member die and she inherited money. First, shouldn't we feel sorry for Jane? She is the one with the dead family member that apparently she loved enough that they left her 10 million dollars. Second, its' not Jane's fault that Joe doesn't save or invest his money. He can live on less than 100K and save or invest his money. Because he is bad with money, we're supposed to feel sorry for him? Jane may very well have invested in Joe's company, saving his job. This entire premise is absurd.
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capitalism is unfair for those people who are on the average to poor status, they cant climb mountains, comparing to those rich capitalist, they can move mountains.
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Very good summary! Thank you.
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well duh
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Ahem Marx's "Das Kapital" anyone?
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"Does the structure of capitalism eliminates inequality or reinforces it?" If this is THE question of this book, let me tell you: Karl Marx already answered that question in the 19th century :) But we can't talk about Marx or say Marx is right this days can we?
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Thank you for this, I have been struggling through this book for some time. I want to make the best decision when voting and I think economic dynamics play a central role in many social issues.
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This doesn't explain what the problem with inequality is, or why it is moral to steal from one group of people to give to another. Why should people envy others? Why does a group of people gain the right to steal that an individual would not?
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"An Introduction to Thomas Piketty's Capital in the 21st Century"
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