Monthly Archives: June 2014

What comes next

For those on the Picketty train, a gloomy scenario is painted fairly clearly. We are entering an age of slow growth, one where little change in status is possible no matter how hard one works, or how brilliant one’s ideas might be. We are entering an age like the Belle Epoque, the 19th century Gilded Age where the top ten percent own virtually everything, and make their living by renting it to others. They rent their money to the government, the land to the proles, and live off the rental income, or interest, or whatever it is called in the various income streams they have fashioned for themselves. The rest of us, in the meantime, have only the sweat off our backs, or our brows, to sell. Continue reading

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