Posts Tagged ‘jane austen’

Some Ill-Informed, Unorganized Thoughts on Thomas Piketty

Capital in the 21st CenturyI just finished reading Capital in the Twenty-First Century by Thomas Piketty, the economics work du jour that has been called the most important book of the century. Rather than take the time to collect my thoughts and organize them into a coherent, sensible review, I decided I’d just dump my initial impressions in a scattered fashion and let you wade your way through. I’m not sure why anyone would even by interested in what I have to say about the issue (as opposed to people much more informed than I am), but this is the Internet and being unqualified never stopped anyone before!

 

—It seems to me that, in all the discussion of Piketty’s book, a lot of people are misconstruing the argument he’s really making. The summary you’ll see a lot is that Piketty is saying inequality has been getting worse for the last 30 years or so. And that is sort of what he’s saying, but that’s not the crux of his argument, and he’s very open about the lack the clarity on that issue. Indeed, he says, “It is by no means certain that inequalities of wealth are actually increasing at the global level.”

Still, inequality is the central theme of the book, and Piketty paints a harrowing portrait. But the full picture he creates is not just one of the present and recent past. He goes all the way back to the eighteenth and nineteenth century and illustrates a few key points. The first is that inequality decreased substantially throughout the twentieth century. This is kind of obvious, but his next point is crucial: This decrease was essentially a historical accident. It was the result of a global Depression and two world wars of unprecedented scale, which destroyed a ton of wealth* and, as Piketty puts it, “wiped the slate clean” for the generation after World War II.

*The way this happened was not as obvious as you might think. Some of it was just the physical destruction of the wars, sure, but it also came from nationalizations caused by the war, loss of European colonies, and the huge national debts and subsequent inflation that followed. Piketty explains it all better than I could.

In other words, the decrease in inequality wasn’t some natural result of the forces of capitalism, but the legacy of specific disasters we’re only now emerging from.

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Monday Medley

What we read while intentionally walking Josh Hamilton….

  • How many Cam Newton highlights can Tim link to before it gets tiresome? Can he have one more? Newton’s 49-yard run against LSU on Saturday left veteran broadcasters Verne Lundquist and Gary Danielson (NPI faves, btw) incredulous. The Tigers, meanwhile, are now No. 1 in the BCS standings.

Monday Medley

What we read while forgetting to vote:

  • Sign you’ve lost credibility as a network: Sesame Street mocks you, and doesn’t even try to be subtle about it.

In Defense of Grammar

Hi, I’m Tim, and I’m a language pedant.

I’m a corrector; you know, one of those guys that corrects you when you say something incorrectly. Think you can get away with disinterested/uninterested mishaps around me? Just ask Rick Reilly. Use reference as a verb when you mean refer and you’ll get a scolding. Same goes for legitimize instead of legitimate (that’s a long a sound at the end: legitimāte). Don’t get me started on the subjunctive mood. I prefer my friends be accurate there, and I don’t think this is particularly unique of me because nothing can be particularly unique.

The Elements of Style sits within reach on a shelf of my desk; I don’t have time to go walking to the other side of the room (and the real bookcase) in case of a grammatical emergency. In my abandoned novel, William Strunk, Jr. was a prominent character.*

*Probably one of the reasons for the adjective “abandoned.”

Although I’m what most would call a stickler, there are some suggestions I don’t always listen to. And clearly, I like to audaciously flaunt some of the basics. Can’t end with a preposition? Please. No starting with a conjunction? Ever hear of transitions? I can’t remember the last time I didn’t split an infinitive. This isn’t Latin.

Nevertheless, Ammon Shea’s attack on “language pedants”—his words—in Sunday’s New York Times Magazine felt personal. Shea expresses his frustration with “inveterate correctors” and reveals his own plan to topple them: via precedent!

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