18 My Critic To Thomas Piketty, Political Philosophy for Human Future

Exegesisme · January 2, 2016

by exegesisme

1xπ Thomas Piketty is a professor at the Paris School of Economy, and the author of the best selling book of Capital In The Twenty-First Century.

http://www.hup.harvard.edu/features/capital-in-the-twenty-first-century-introduction.html

2xπ He argued in his book Capital In The Twenty-First Century, the rate of capital return in developed countries is consistently greater than the rate of economic growth, which would cause wealth inequality to increase in the future. He proposed redistribution through a progressive global tax on wealth to solve this issue according to his opinion.

3xπ My arguments of critic is to his proposal, which would repress human creativity and disvalue human morality and ethics.

4xπ On my opinion, the rate of capital return in any economy should be greater than the rate of economic growth, the capital would lose its passion of hunting for chance of good investment, if without the greater than average return. The good chance of investment would have less likely to get support of capital, and less likely to make its natural contribution to economy, and less likely to play its role in improving human living.

5xπ Therefore, the rate of capital return being greater than the rate of economic growth is a driver of human economic growth, and should not be seen as an issue.

6xπ The hierarchical structure of income its own is a way to encourage hard work according to the economic law, therefore, a proper inequality of economy is also not an issue.

7xπ The inequality of economy would become an issue only as it becomes improperly large. Even in this situation, an economist first should examine the infrastructure of economy, and ease the improperly large economic inequality by adjusting the fundamental infrastructure of economy, rather than simply creating a new progressive global tax on wealth.

8xπ Some moral, ethical and economic encouragements for the wealth people to help the poor are also important. The growths of human morality and ethics would make real contribution to human quality life.

9xπ My view of sound government should keep at the level of meeting essential necessaries, any more than this level would cause wastes.

10xπ The people who created their wealth morally would know more how to help the poor people than the government.

Edited January 2, 2016 by Exegesisme