Monday, May 16, 2022

Capital in the 21st Century and Beyond


Seven years of famine and seven years of feast is the biblical time line, but it doesn’t always work that way. How to account for the people for whom life's one big feast? What about the compounding of interest or those invest and reinvest accounts which grow bigger and bigger while the rest of the world can't afford to save, period? You see this most clearly with acting. A starring role turns a performer's name into a kind of currency while the rest of the profession languishes with anonymous voice overs that go nowhere. Thomas Piketty has written about the widening disparities of "wealth"  in Capital in the 21st Century, but the same glaring gaps exist in terms of education too. Students attending elite prep schools like Andover or Exeter are literally sent into orbit on graduation where their counterparts in failing school systems are unprepared for anything, but debt. The rich get richer and the poor get poorer, no matter what the currency.

read "Wealth" by Francis Levy, HuffPost

and listen to "Piece of My Heart" by Irma Franklin

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