Thomas Piketty and the Myth of Inequality

This video was created by Christian Jackson. The full lecture and QnA were part of the Ayn Rand seminar at Keio University. Filmed at Keio University, in Minato City, Tokyo, Japan on May 24, 2019.

#ThomasPiketty #Inequality #Equality

[billmelater]

What is it?:  "Inequality is just what happens when you leave people free to make their own decisions?"

[joblakelisbon]

There's an amazing level of equality in Cuba - perfectly equal squalor.

Go next door to the Dominican Republic and there is a higher degree of inequality. Some hard, working, educated people progress economically over the decades. The overall direction and growth of the country is excellent.

[hariseldon]

You have an aging population - and you have fewer young people. What happens over time? People collect assets and wealth (even relatively poor people). Also with age onset you commit less crime. The young start with relatively few assets and are more 'rash' so they commit more crimes. --- So what do you get - a greater and greater difference between wealth and crime - and the inequality between the rich and poor. This can be proven bc most of the "rich" are OLD and most of the poor are YOUNG...
What happens to the rich? They die. Then you have a redistribution of wealth - BUT the STATE sticks its hand out and taxes the wealth transfer - as well as the wealth is divided between multiples. In summary - the RICH - POOR argument is hollow. We'll all at one point in time be people that are relatively better off than OUR OWN YOUNGER SELVES. We are all potentially both the POOR and the RICH, just as we are both potentially able to commit crime - but of course, if you are RICH the INCENTIVES to commit crime are less - as is the opportunity for your aging limbs to complete the task and escape.

[vashlash]

Ayne Rand was such a hypocrite. She claimed having racial prefferences was immoral, yet she was a firm supporter of the ethno state of Israel. If her Jewish people are ethnically cleansing others is ok i guess.
Also no their is literally zeeo incentive for capitalists to give up their power to decrease crime. I thought greed was good, free markets are based on greed, so why would the greediest give up their wealth for the sake of the collective.
Once i took an academic approach to analyzing socialist regimes, I realized many of them were massively successful in terms of economic improvement. Just look at the Third Reich. Wirtschaftswunder aka the economic miracle, worked very well. The Third Reich ended their great deoression in under 2 years. Meanwhile Capitalist America had a 14 year recovery. The Soviet union went from serfdom, to a global super power, growing faster than the USA (post ww2), in a matter of decades. Yes pre ww2 soviet unuon was evil, and yes some socialist regimes performed terribly (pol pot for example).

Socialism always fails is a dumb arguement by Hakin, is a great video on YT.