[Marxism] Capitalism in the Twenty-First Century:, Global Inequality, Piketty, and the Transnational, Capitalist Class,

Louis Proyect lnp3 at panix.com
Wed Jan 10 18:00:20 MST 2018

By William I. Robinson

> But that is precisely the rub. Capital in the Twenty-First Century has been
> so well received by the academic, media, and political establishment precisely
> because it converges with the reformist agenda of a rising number of
> transnational elites and intelligentsia. These elites have become increasingly
> concerned that the social conflicts and political turmoil sparked by such
> egregious inequalities may destabilize global capitalism and threaten their
> control. They seek to save capitalism from itself and from more radical projects
> from below. Like Piketty, they call for mildly redistributive measures such
> as increased taxes on corporations and the rich, a more progressive income
> tax, the reintroduction of social welfare programs, and a “green capitalism.”
> They are also alarmed that extreme levels of inequality will undermine the
> prospects for growth and profit making. The Organization of economic Cooperation
> and Development (OECD), the club of the 34 richest countries, for
> instance, warned in a 2015 report that the “global inequality gap” has “reached
> a turning point.” The report did not have much to say about the social injustice
> that such inequality represents, nor about the mass suffering it brings about.
> It did, however, highlight that “high inequality drags down growth” and recommend
> raising taxes on the rich.


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