"First they came for the Communists,
and I didn’t speak up,
because I wasn’t a Communist.
Then they came for the Jews,
and I didn’t speak up,
because I wasn’t a Jew.
Then they came for the Catholics,
and I didn’t speak up,
because I was a Protestant.
Then they came for me,
and by that time there was no one
left to speak up for me."
~ Martin Niemoller
Turning Piketty Right Side Up
Submitted by Westernerd on Thu, 2014-06-19 02:00
In his new book, Capital In the Twenty-First Century, Piketty argues that saving and capital accumulation by wealthy capitalists serves to reduce wages while doing nothing to increase production. In real life, however, capitalists constantly make investments that increase both production and wages.
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