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100% Are Sure He's Right (Or Wrong) But Have Read Only 2.4% Of Piketty's Book

Tyler Durden's picture




 

100% of people have a view on Thomas Piketty's "Capital In The 21st Century" - for better or worse - confidently spewing supportive anecdotes of what they think he said and what they believe he means... But, as WSJ reports, people who spent hard-earned (or government-subsidized) money to buy his socialist tome have only read 2.4%. It appears few - if any - made it past page 26... Perhaps they would all be better off reading this.

 

As WSJ reports - based on the so-called Hawking Index (which correlates to pages read) mockingly named after Stephen Hawking's Brief History of Time which held the record for most-bought-least-read book for a long time...

"Capital in the Twenty-First Century" by Thomas Piketty : 2.4% read

 

Yes, it came out just three months ago. But the contest isn't even close. Mr. Piketty's book is almost 700 pages long, and the last of the top five popular highlights appears on page 26.

 

Stephen Hawking is off the hook; from now on, this measure should be known as the Piketty Index.

(Methodology: Take the page numbers of a book's five top highlights, average them, and divide by the number of pages in the whole book. The higher the number, the more of the book we're guessing most people are likely to have read.)

*  *  *

Of course - there are plenty of taking heads willing to explain it to you but we offered an alternative economics textbook here that we suspect offers more accurate and useful insight...

 

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Mon, 07/07/2014 - 13:14 | 4932008 hedgeless_horseman
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What do you call an economist that makes predictions?  Wrong.

h/t Taleb

Mon, 07/07/2014 - 13:15 | 4932017 JustObserving
JustObserving's picture

What do you call an official US economist?

Liar

Mon, 07/07/2014 - 13:20 | 4932033 AlaricBalth
AlaricBalth's picture

 Economics in One Lesson by Henry Hazlitt - Here is a free copy.

https://mises.org/books/economics_in_one_lesson_hazlitt.pdf

Mon, 07/07/2014 - 13:35 | 4932052 Pladizow
Pladizow's picture

Nor would i waste my time analysing my used toilet paper -  I know whats there!

The only function of economic forecasting is to make astrology look respectable." - John Kenneth Galbraith


“While certain public policies would in the long run benefit everybody, other policies would benefit one group only at the expense of all other groups. The group that would benefit from such policies, having such a direct interest in them, will argue for them plausibly and persistently. It will hire the best buyable minds to devote their whole time to presenting the case. And it will finally either convince the general public that the case is sound, or so befuddle it that clear thinking on the subject becomes next to impossible.” – Henry Hazlitt, Economics In One Lesson - Page one, 1946.

“It is often sadly remarked that the bad economist present their errors to the public better than the good economists present their truths.” - Henry Hazlitt, Economics In One Lesson, 1946.


”Socialism is the philosophy of failure, the creed of ignorance, and the gospel of envy. Its inherent virtue is the equal sharing of misery.” – Winston Churchill

 

 

 

Mon, 07/07/2014 - 13:34 | 4932086 Headbanger
Headbanger's picture

Yep.  The sub-title should be "An Introduction to Cacanomics"

Mon, 07/07/2014 - 14:53 | 4932526 Miles Ahead
Miles Ahead's picture

You really quoted Winston Churchill as proof of some wisdom.  Now that's amazing.  You must read the UK/US history books. That fucking ape.

Mon, 07/07/2014 - 15:06 | 4932588 Pladizow
Pladizow's picture

@ Miles of Head - Sorry to offend you?

Mon, 07/07/2014 - 17:21 | 4933160 Monty Burns
Monty Burns's picture

Churchill undermined every attempt to avoid WWII and once started, every attempt to abbreviate it.  Seriously evil.

Mon, 07/07/2014 - 23:06 | 4934258 TheReplacement
TheReplacement's picture

You mean he was not in office and he predicted it would happen and once it did happen the British put him in office because he was the only person with enough vision to deal with it?

You are probably one of those people that believes an artificial truce will produce long lasting peace.  Reality shows that the longer tensions simmer unresolved the longer people will make war with each other.  Look at the middle east.  Nobody has ever really won a full victory there and so the wars keep on coming.  Compare that to the American Indians.  They were utterly and completely defeated and look how often they revolt.  Humanitarians think otherwise but the only lasting peace is a Roman peace. 

Churchill understood that Germany had to be put down hard and only then treated gently.  Contrast that with what happened after WWI and you can see he was right.

 

Mon, 07/07/2014 - 14:08 | 4932273 ConfederateH
ConfederateH's picture

Churchill was a rank statist, an elitist and a war monger.  I wouldn't want any of my quotes placed next to his.

Mon, 07/07/2014 - 14:17 | 4932323 Pladizow
Pladizow's picture

You got it - I wont place any of your quotes next to his!

Mon, 07/07/2014 - 14:26 | 4932382 FuzzyDunlop21
FuzzyDunlop21's picture

Yea he was an asshole. He was right about this though

Mon, 07/07/2014 - 15:07 | 4932592 Miles Ahead
Miles Ahead's picture

Right? Imagine had them apes not taken so many resources from the rest of the world in their Empire On Which The Sun Never Sets.  Imagine where those inbred lot would be.  Hell, I'd be against Socialism too if I held the whip hand!

Of course he would say all that, from behind the muzzle (or whatever the brits used).  Slaves, massacres, Opium.

I guess he didn't have much confidence in Capitalism. So he opted for Empire to hedge his bets. We could probably find some good ol' Austrian Economics quotes from another Austrian cum German führer if we really looked a bit.

Churchill stinks.

Tue, 07/08/2014 - 03:49 | 4934597 Fiat Envy
Fiat Envy's picture

You forgot war criminal.

Mon, 07/07/2014 - 13:28 | 4932054 gh0atrider
gh0atrider's picture

Having to suffer the same air supply as socialists on occasion, it has been gh0atrider's experience that people pick and choose their economists to fit their world view.

Mon, 07/07/2014 - 13:39 | 4932102 Greenskeeper_Carl
Greenskeeper_Carl's picture

very true. that is also why keynes was and is so popular. He provided govts and central banks with an acedemic cover for what they were already trying to do. He laid the foundation, in a widely circulated book, providing the (false) justification for govt deficit spending, and especially inflation, calling it a way for govts to confiscate several % of the populations money without them ever being aware of it. Piketty's book does the same thing. He provides a populist justification for broke, corrupt govts (and the UN/IMF) are already trying to do, these ideas arent original at all, he is just their new salesman

Mon, 07/07/2014 - 14:00 | 4932213 kchrisc
kchrisc's picture

"He provided govts and central banks with an acedemic cover for what they were already trying to do."

Well said.

Mon, 07/07/2014 - 13:40 | 4932109 hot sauce technician
hot sauce technician's picture

So good I translated half of it into a foreign language. 

Hazlitt was a master writer.

Mon, 07/07/2014 - 15:43 | 4932780 Bioscale
Bioscale's picture

I tried once to translate von Mises's Nationaloekonomie. I quit after second page, the old Deutsch was fucking hard. The official translation was then made from English.

Mon, 07/07/2014 - 13:45 | 4932141 Ribeye
Ribeye's picture

downloaded it from Mises, started reading, read it from start to finish without stopping, 

hat tip to Dr Paul for pointing me towards it, 

love that book,

 

 

 

 

Mon, 07/07/2014 - 14:09 | 4932277 kchrisc
kchrisc's picture

Good for you.

Hazlitt is Austrian Economic thought applied to political economy arguments.

Now try a basic into to Austrian Economic thought: https://mises.org/books/econforrealpeople.pdf

Very good book and just about all the non-academic needs to know.

And then there is the most incredible book ever written on the motivations and methods of the ruling class, Bastiat's The Law. 60 pages of wonderment: http://library.mises.org/books/Frederic%20Bastiat/The%20Law.pdf

Mon, 07/07/2014 - 16:49 | 4932944 falak pema
falak pema's picture

Bastiat bases his tenets on : liberty, property and justice for the individual as opposed to the notion of general good defined by a Lawmaker.

The right to property is the one that is not consistent with history; as since time immemorial property has been based on possession being the law. Its the bone of contention between Man and his neighbour. 

Thus ONE fundamental premise of Bastiat is ill defined : who decides what a man's property is in an agrarian society-- Bastiat's world-- as that ownership has been the gist of all problem since Man sedantarised. 

Civilization has always recognised that Justice can never be applied without the REFEREE between two parties applying PREORDAINED laws made NOT by nature or GOD but by Man for man. Thus the relevance of Lycurgus and Solon.

Sorry, Bastiat was taking short cuts with history in his idealistic construct. 

And, Bastiat based his idea of individual liberty as "organically" defined by God's natural laws ! Now which God would that be ? (Take your pick!)

Mon, 07/07/2014 - 20:16 | 4933476 NidStyles
NidStyles's picture

Let me address your post piece by piece.

 

Bastiat did not base his tenets on anything more than formal logic. If you had actually read his work you would know this. 

The right to property was always paramount and Common Law defending it goes as far back as the early 1200's in the European traditions and even further back in the Middle-East, Asia and Mediterranean cultures. 

You say it is ill defined but offer no examples to display this, that makes your claim a fallacy. Also, humans do not live in a agrarian societies, and they realistically have not for at least a thousand years by my count. 

Love how you bring up a couple of Greeks as if their names would help your cause. Did you forget that in ancient Greek tribes writs of ownership were commonly used, and that both the Athenian and Spartan Empires were built upon private ownership and property. 

 

Bastiat was doing what? How? Where? You're telling me a guy who wrote as prolifically as Bastiat need only be summed up by you and your statist brethren with one sentence without evidence to his faults, and that we should all just jump on your train and accept what you say, because why again? Where is the argument here? All I see are Ad-Homs and other fallacies. 

 Natural Law, which to the uneducated is based on a religious context rather than the work of the most famous Greek outside of Hercules, has little to do with a deity.. You know those same people you thought you were so enlightened by bringing them up earlier. 

 

Your argument is weak and based on fallacies. You have nothing to say that is not based on ulterior motives here. 

Tue, 07/08/2014 - 08:25 | 4934843 falak pema
falak pema's picture

I was commenting the views of Bastiat as presented in his Opus, attachment to the previous post entitled :  The Law. 

What ulterior motives? 

Lol ! 

Mon, 07/07/2014 - 16:55 | 4932704 Eirik Magnus Larssen
Eirik Magnus Larssen's picture

"Don't fear my book, fear reality." -- Thomas Piketty

Mon, 07/07/2014 - 18:57 | 4933497 NidStyles
NidStyles's picture

His tripe in print is far scarier.

Mon, 07/07/2014 - 13:14 | 4932015 DoChenRollingBearing
DoChenRollingBearing's picture

I will not buy nor read the book.  YAWN.  Marxism is densely written garbage anyway.

Mon, 07/07/2014 - 13:44 | 4932130 Greenskeeper_Carl
Greenskeeper_Carl's picture

nope, me neither. Its only number 1 because its fashionable, the leftist flavor of the month. Unlike some, I don't doubt this many people have bought it, its a must have for any leftists' book shelf. Billary's book, not so much. These guys saying they don't trust the best seller list or think it is legit; if it was possible to fake that, trust me, the Billary book wouldn't have flopped like it did. but, see my post above, piketty is merely providing acedemic cover for what the bankrupt, corrupted people were already trying to do before this book, just like keynes before him.

Mon, 07/07/2014 - 14:37 | 4932459 NotApplicable
NotApplicable's picture

I doubt that anybody bought this book. Well, other than the millions of GM buyers who like to pile them up in giant parking lots.

Maybe they stuffed them all in the trunks?

Tue, 07/08/2014 - 00:41 | 4934430 StychoKiller
StychoKiller's picture

Strange how redistributionist claptrap NEVER includes book royalties.  The author of this drivel can pound sand!

Mon, 07/07/2014 - 16:56 | 4933058 Eirik Magnus Larssen
Eirik Magnus Larssen's picture

Few things are as misunderstood as Marxism. Particularly in America.

Mon, 07/07/2014 - 19:23 | 4933507 NidStyles
NidStyles's picture

Not at all... Rothbard wrote a great essay on it, and he was an American.

 

Mon, 07/07/2014 - 13:15 | 4932019 i_call_you_my_base
i_call_you_my_base's picture

I didn't believe its best seller status the moment I heard it. No one wants to read a 700 page economics book, no matter whwat your ideological take is. The only thing I learned from that book is that the best seller list can be faked.

Mon, 07/07/2014 - 13:39 | 4932101 SuperRay
SuperRay's picture

Piketty became a best seller the way Argo became best picture. Through lies and manipulation...

Mon, 07/07/2014 - 13:16 | 4932020 Dr. Engali
Dr. Engali's picture

hmmmm.... I would have thought the bible was the most bought and least read book ever. Seems everbody can quote it, but they have no idea what's in it.

Mon, 07/07/2014 - 13:22 | 4932034 hedgeless_horseman
hedgeless_horseman's picture

 

 

I agree.  Matthew 5, 6, and 7 , Jesus' Sermon on the Mount, is a great place to start.  It takes about 10 - 15 minutes to read it.

Mon, 07/07/2014 - 13:52 | 4932175 hot sauce technician
hot sauce technician's picture

I'm an Old Testament type of fella. Nothing like reading in the original 3000 year old Hebrew the epics of the judges or kings. Or the poetry of the prophets flavored with that Judean/Canaanite slang.

Mon, 07/07/2014 - 15:08 | 4932596 MeBizarro
MeBizarro's picture

Que?  Another Bible reader woefully ignorant on the history of the present 'Bible' and its origins.  One of the thing that irks me the most is how many Christians especially Evangelicals in the US know next to nothing about the origins of the 'Bible' and actually think it is the word of Jesus/God. 

Mon, 07/07/2014 - 18:30 | 4933398 hot sauce technician
hot sauce technician's picture

PLease be more specific. The Hebrew "Bible" is in fact a compilation of 24 different books, most of which were written by separate authors in different periods. The book of Esther is different than Samuel in language (i.e. grammar, syntax, vocabulary), style and content. For example. That's because the former was written in Persia in the 5th century BCE and the latter in northern Judea circa 950 BCE. Capsici?

Mon, 07/07/2014 - 13:16 | 4932022 Colonel Klink
Colonel Klink's picture

What's the difference between the pages of Piketty's book and toilet paper.  Toilet paper has shit on it after you use it.

Mon, 07/07/2014 - 14:23 | 4932365 saycheeeese
saycheeeese's picture

toilet paper cleans better for sure !

Mon, 07/07/2014 - 13:23 | 4932044 saycheeeese
saycheeeese's picture

the essence of money is the key and very few understand it, the rest is BS

abolish the FED, abolish Fractional Reserve Banking

Mon, 07/07/2014 - 14:07 | 4932264 hot sauce technician
hot sauce technician's picture

Amen! That's actually one of the first issues Hazlitt tackles in 'One Lesson '. Money represents value. It's actually a form of production. Supply and demand equal each other. Etc. Etc.

Another thing to abolish is any type of involuntary association.

Mon, 07/07/2014 - 17:46 | 4933256 All Risk No Reward
All Risk No Reward's picture

Did Hazlett address the initializing of new money into society as debt?

I doubt it - and nothing is more important than that one issue.

If he did, how come the people who promote him don't make that their #1 talking point because it is the number one talking point?

I'm going to read it, as well as the other books listed.  Thanks for posting those.   I bet the material is quite good.

But if you don't understand the prima fascie fraud of instantiating money as debt in the first instance, you don't know what you really need to know.

When money is initialized as debt, the entire system is fraudulant andall the other "insight" becomes irrelevant over the long term.

When the foundation is fraud, the structure is fraud.

Debt Money Tyranny
http://www.keepandshare.com/doc/4768883/debtmoneytyranny-6-1-pdf-60k?tr=77

When Money is Debt - Poverty is not a Choice
http://www.youtube.com/watch?v=juQc0rLdB-E

How to be a Crook
http://www.youtube.com/watch?v=2oHbwdNcHbc

Debunking Money
http://www.youtube.com/watch?v=7_yh4-Zi92Q

Renaissance 2.0
http://www.youtube.com/watch?v=96c2wXcNA7A

 

Mon, 07/07/2014 - 18:33 | 4933406 hot sauce technician
hot sauce technician's picture

Of course he did. He decried the inflationary policies of central banksters from day one. His premise was: creating public debt either increases inflation or decreases real wages. Read the book.

Mon, 07/07/2014 - 18:43 | 4933434 All Risk No Reward
All Risk No Reward's picture

I plan on reading the book and I think I will find it enlightening.

But your response is really non-responsive to my question.

The incentive to inflate is created by basing money itself on debt... it isn't the root cause.

You addressed an effect of Debt Based Money, not the root cause.

I still don't think he addressed the mechanism depicted here:

Debt Money Tyranny
http://www.keepandshare.com/doc/4768883/debtmoneytyranny-6-1-pdf-60k?tr=77

If he had, so many people wouldn't be so clueless.

For example, Ron Paul is completely clueless about this issue and I've never heard any major libertarian discuss it.

Ever.

Mon, 07/07/2014 - 19:21 | 4933544 All Risk No Reward
All Risk No Reward's picture

Hazlett hit a clean miss on the prima fascie fraud of defining money's creation through loans.

He doesn't address it.  Nowhere does he point out that that the very basis of our monetary system is a criminal fraud engineered, fromt he ground up, to bankrupt society.

Let me repeat - THE VERY FOUNDATIONOF OUR MONETARY SYSTEM IS FRAUD.

It isn't that we make "bad choices" in a given monetary system, IT IS THAT THE DEBT MONEY MONETARY IS A PRIMA FASCIE FRAUD RUN BY CRIMINALS.

Very, very few Mises types understand this...  which probably explains the funding he received from the Rockefeller Foundation.  There is no way he would've been funded if he actually understood and communicated the criminal nature of our monetary system.

Debt Money Tyranny
http://www.keepandshare.com/doc/4768883/debtmoneytyranny-6-1-pdf-60k?tr=77

To debunk this debt based money system in a way that no establishment entity ever has, including the libertarian establishment...

Debunking Money
https://www.youtube.com/watch?v=7_yh4-Zi92Q

^^^  Watch this video...^^^

To all the Austrians - it is impossible to have net savings in society (ex the supranational private banking cartel).  Period.

If you don't comprehend this, you don't understand money.

BTW, this was not true when Austrian Economics was developed...  BUT IT IS TRUE NOW.

The monetary system changed and there are real implication to that change.

Mon, 07/07/2014 - 13:29 | 4932055 Tasty Sandwich
Tasty Sandwich's picture

Confirmation bias.

We're all susceptible.

It's difficult to give up something you wholeheartedly believe or want to believe - whether economic theories, religion, god, political ideology, etc.

People will fight for their beliefs long before they'll reconsider.

Mon, 07/07/2014 - 13:30 | 4932064 TuPhat
TuPhat's picture

I'll just wait till they make the movie and it comes on SYFY channel.

Mon, 07/07/2014 - 13:47 | 4932140 Mercury
Mercury's picture

No, I haven't read the book and don't plan too.

But I believe Thomas Piketty wants to raise my taxes and insert more government controls deeper into my life.

What else do I need to know...that it's for my own good?

Mon, 07/07/2014 - 13:51 | 4932166 Variance Doc
Variance Doc's picture

Lloyd Shapley(https://en.wikipedia.org/wiki/Lloyd_Shapley) was my undergraduate thesis advisor. We worked on economics and game theory.

I mentioned once, that Hawking had stated that for every equation in a book, the readership goes down by half. Shapley shot back with "Yeah, but the IQ goes up by four!"

Brilliant man.

Mon, 07/07/2014 - 14:06 | 4932199 flysofree
flysofree's picture

I don't believe that the author of this piece knows who Thomas Pikkedy is.

Anyone who reads and quotes WSJ needs to have their head examined. WSJ is the right-wing propaganda tool of the bankers and plutocrats.

 

Mon, 07/07/2014 - 14:09 | 4932281 Dr. Engali
Dr. Engali's picture

Maybe the NYTs is more to your liking....Gooooooooo Blue team!

Mon, 07/07/2014 - 14:45 | 4932494 NotApplicable
NotApplicable's picture

Funny that this book is about as "left-wing" as you can get, as it's nothing more than the continuation of Marx's narrative about the death of capitalism. Then of course, you don't know who Pikkety is either, given you don't know how to spell his name.

Do you always make such flippant comments without the slightest knowledge of the subject?

Mon, 07/07/2014 - 14:16 | 4932321 gcjohns1971
gcjohns1971's picture

The arguments do not support the conclusion. 

The number of pages read is irrelevant to determining Piketty's credibility.  One need only find the FIRST error. 

Piketty makes provably false statements early when he ignores the inherent moral hazard in Socialism, and then selectively applies moral hazard when analyzing other points of view.

All things being equal, you should always assume a book's author is wrong until proven right.   Much of the last 100 years proves Piketty's position to be wrong.   

And Piketty makes his position clear early on.

Mon, 07/07/2014 - 14:53 | 4932525 NotApplicable
NotApplicable's picture

I'm sure I had to read no more than a paragraph before I hit that first error. The smell of Marx is the smell of sophistry, not knowledge.

But as always, it's new to the noobs who end up as rubes.

And that's all that really matters in a political world.

Useful Idiots, FTMFW!

Mon, 07/07/2014 - 14:26 | 4932377 Itchy and Scratchy
Itchy and Scratchy's picture

There's 2.4% of information in that book? Who wuuda thunk it?

Mon, 07/07/2014 - 14:29 | 4932396 kchrisc
kchrisc's picture

Most teachings on economics teach that "scarcity" is the basis of economics. However, "scarcity" is really a general law of the universe.

Being that economics is the study of human fulfillment by action, I would propose that Say's law, "No demand without first production," forms the basis of economics.

Rephrased it becomes, "That not produced cannot be demanded or consumed.” This is the foundational tenant of economics, and it then follows that any "policy" or planned act that violates it is, at best, suspect.

The idea of “printing” economic growth or prosperity becomes humorous when one compares it to the foundational tenant, as does the forced theft of government.

Mon, 07/07/2014 - 18:10 | 4933322 Matt
Matt's picture

What do you mean exactly when you say "demand"?

People demand food prior to its production, which is why it is produced. People demand better housing, and then better housing is built to satisfy that demand.

It seems to me it can work both ways, with supply creating demand or demand creating supply, depending on the specific good or service.

Mon, 07/07/2014 - 19:15 | 4933545 NidStyles
NidStyles's picture

You are conflating durables and consumables, and how demand relates to opportunity costs.

 

 

Tue, 07/08/2014 - 00:10 | 4934384 kchrisc
kchrisc's picture

Your are referring to the use of the word "demand" to mean desire.

I am using it in the economic sense where it means to "trade" or "exchange."

I should have been clearer.

 

Mon, 07/07/2014 - 14:30 | 4932399 pakled
pakled's picture

100% have an opinion?

 

Judging from the comments thus far, that would appear to be a true statement.

 

(And I had not an opinion until I read the comments. So still at 100%)

Mon, 07/07/2014 - 17:19 | 4933042 Radical Marijuana
Radical Marijuana's picture

Anyone with enough experience does not need to read 700 pages to know that book will be like almost everything else that gets published, which is about 90%, or more, relativity good analysis of the facts, (with some mistakes) followed by about 10%, or less, bullshit "solutions," which are basically ridiculous non-starters.

"ECONOMICS" IS A SCIENCE,

LIKE WARFARE IS A SCIENCE.

Success in warfare was based on deceits, while success in economics was based on frauds. Economists that the mainstream mass media pay attention to are mercenary intellectuals, promoting the biggest bullies' (currently the banksters') bullshit world view, if only as the controlled opposition to that.

Nobody that addresses the deeper realities that governments are the biggest form of organized crime, controlled by the best organized gang of criminals, the biggest gangsters, the banksters, is going to have any attention paid to them by the mass media. Furthermore, anyone who then goes on to address the even deeper realities regarding how and why human societies must necessarily be controlled by the principles and methods of organized crime is not going to have any attention paid to them by most of the controlled opposition groups either.

Human realities are ALWAYS organized lies, operating robberies, while those who were the best at doing that were ALWAYS the best at lying about what they were actually doing. Therefore, human civilizations have become runaway systems of legalized lies, backed by legalized violence, which are automatically becoming more criminally insane at an exponential rate, due to their inherent paradoxes that they are controlled by lies backed by violence.

Piketty's book, from the reviews that I have read, is quite typical in exhaustively demonstrating the social facts, while then concluding with absurdly superficial "solutions." The deeper problems are the basic ways that general energy systems manifest through human beings, which are that the best ways to describe human societies are that they operate according to the principles and methods of organized crime, which fractally repeat on different levels of society. The even deeper problems are that the successful ways to operate those strategies are to lie about them as much as possible. Since the most socially successful strategies are based on backing up lies with violence, there also follows in the wake of that the various controlled opposition groups, as various co-opted and compromised religions and ideologies, that are similar sorts of professional liars and immaculate hypocrites, that assist the more established lying hypocrites in being able to continue to do what they do.

The industrial revolutions have driven the problems of the biggest bullies controlling society with bullshit to become orders of magnitude worse, faster. Nothing is new, other than the astronomically amplified SCALE of the systems of organized lies operating robberies, which have been able to strip-mine the world's natural resources.

Consider that the majority of the world's surface is ocean, and then consider how the facts presented in this presentation review there the same problem of diminishing returns from strip-mining the planet seen everywhere else:

https://www.youtube.com/watch?v=MiHdDjLm7CE

World's Oceans Face "Irreparable Damage"

Of course, that 10 minute video also follows the same pattern of 90% good analysis of facts, followed by 10% bullshit solutions (such as relying upon the United Nations, which was set up by the banksters, to provide a forum where various professional liars and immaculate hypocrites could meet and discuss each others' lies and hypocrisies.)

Everywhere else one looks, one will see how "economics" was dominated by systems of legalized lies, backed by legalized violence, which were able to operate through attitudes of evil deliberate ignorance towards what they were doing, because the ONLY thing that really mattered to being able to run the established systems was the ability to back up frauds with force. No other kinds of rational evidence, nor logical arguments, mattered, except those which would assist in becoming even better at being dishonest, and backing that up with violence. THEREFORE, THE STRIP MINING OF THE PLANET CONTINUES, TOWARDS SHORT-CIRCUITING INTO CAUSING PEAK INSANITIES, ALONG WITH PEAK EVERYTHING ELSE.

Inside of the ways that the entire social pyramid system was based on backing up lies with violence, where science and technology were primarily employed to become better at enforcing frauds (such as the threat of the force of atomic bombs backing up electronic frauds), NO MERE OPINIONS MATTER MUCH, NOR WILL MAKE ANY SIGNIFICANT DIFFERENCE TO THE RUNAWAY SYSTEMS OF ENFORCED FRAUDS DRIVING THEMSELVES TOWARDS THEIR OWN MAD SELF-DESTRUCTION.

The basic problem with better understanding of economics is that reveals that it is a runaway system of enforced frauds, where there is no point in understanding that, other than to try to take advantage of those systems of enforced frauds, by pumping them up even more. That is, the only apparently practical responses to the established economic systems, which work to make things get worse faster, is by then also attempting to make more insane "money," inside that insane monetary system, since nothing else works, given the degree to which those entrenched systems of enforced frauds already so totally dominate society in every possible way.

There is no practical point in bothering to actually buy Piketty's book and read the whole thing. Indeed, there is no practical point to understanding that civilization operates according to the principles and methods of organized crime, because almost nobody else is going to want to understand that, and certainly not the ruling classes, who have made and maintained the established systems of enforced frauds which benefit them in the short to medium term. Furthermore, since the ruling classes have been so successful in brainwashing those they ruled over to believe in bullshit, the vast majority of people have become adamant political idiots, or Zombie Sheeple, who do not want to understand the realities of economics either.

Theoretically, the biggest bullies, and the bullshit that they use to control the social pyramid systems, should go through a series of profound intellectual revolutions, because progress in science and technology, being applied primarily to operate ever greater enforced frauds, will have catastrophic consequences for everyone, including the banksters. Runaway creation of "money" out of nothing as debts, to "pay" for strip-mining the planet is a criminally insane system, when looked at over the longer term. However, there is practically no way to do anything to stop that, and certainly, the bullshit solutions which I have read about being reviewed in Piketty's book do not come remotely close to addressing the deeper problems.

The basic realities are that all private property is based on claims backed by coercions, in which context, the most abstract form of private property is money, which is measurement backed by murder. The established systems of enforced financial frauds have their debt controls backed by death controls, because they must necessarily have been made and maintained in that way, because the history of political economy was based on the history of warfare.

From a philosophical point of view, the value of everything has been perverted and inverted, which includes the basic ways that we think about time and space, which also necessarily includes the ways that we think about entropy backwards. Since the philosophy of science was dominated by the biggest bullies' bullshit world view, the same as every other social enterprise, the foundation of our financial systems being frauds tends to be deliberately ignored, rather than addressed as the central problem. However, even those few who do address that then still tend to propose old-fashioned backwards "solutions" to that problem.

IN FACT, THE PROBLEMS ARE DUE TO THE DEATH CONTROLS BACKING THE DEBT CONTROLS. THEREFORE, AS THE ESTABLISHED DEBT SLAVERY SYSTEMS DRIVE THEIR NUMBERS TO GENERATE SITUATIONS WHICH ARE DEBT INSANITIES, THE ONLY REALISTIC "SOLUTIONS" ARE TO PROVOKE DEATH INSANITIES. INDEED, STARTING MORE GENOCIDAL WARS BASED ON DECEITS, WHILE PREPARING TO IMPOSE DEMOCIDAL MARTIAL LAW, ARE THE ONLY "SOLUTIONS" WHICH THE RULING CLASSES ACTUALLY APPEAR TO BE COVERTLY PREPARING.

Of course, nobody that the mass media is going to pay any attention to is going to address the issues that we are actually inside of an historically established combined money/murder system. Furthermore, none of the alternatives who represent controlled opposition groups are going to directly address that either. Therefore, all the currently established systems of legalized lies, backed by legalized lies, facilitating the strip-mining the planet at an exponential rate, are going to severely overshoot, into their diminishing return phases, in ways that they deliberately did not prepare for, and therefore, will tend to collapse into chaos.

There in no reasonable way to predict anything else than systems of enforced frauds driving their combined MADness (Money As Debt, backed by Mutual Assured Destruction) towards Peak Insanity. They can not do anything to prevent that, because they will not recognize nor admit more radical truth about themselves. The ruling classes will refuse to publicly admit what they are actually doing, while those they rule over have already been conditioned to not want to know.

In that context, Piketty's book seems to me to obviously end up being more bullshit, which would not be worth buying and reading. I already know that there is runaway social polarization, which appears to me to have already become irreconcilable. Moreover, the same systems of fundamentally fraudulent financial accounting have already driven the strip-mining of the planet to points where I think that is already irreparable.

After learning enough, the only practical responses are to watch and wait as these things get worse, faster, while there is nothing that could actually be done about that situation which did not tend to make it merely get even worse, even faster. The realistic "solutions" to the problems that civilization is almost totally controlled by lies backed by violence  are that will drive itself through MAD self-destruction. Attempting to use violence to stop the lies would backfire, while anything else will continue being deliberately ignored.

The only realistic alternative "solutions" would have to be better death controls, instead of the death insanities which are being set up to happen, due to the runaway debt insanities. However, one can be quite sure that any such kinds of relatively more realistic discussions of resolutions to the actual problems will never be mentioned in the mass media, because the ruling classes never want more radical truth about their systems of enforced frauds to be more publicly acknowledged, while the mass media can easily continue to get away with that kind of deliberate ignorance, because the vast majority of their audience has already been brainwashed to want to continue to be deliberately ignorant.

The basic social pyramid systems were based on lies backed by violence, done by the ruling classes, in order to make those they ruled over become ignorant and afraid. The grand paradoxes are that too much success inside those systems requires that everything those systems do must operate through attitudes of evil deliberate ignorance. Therefore, our basic social, economic, and political systems operate on the basis of deliberately ignoring all rational evidence and logical arguments which would lead to conclusions that they do not like.

Piketty appears to have been quite typical in the overall ways that people manage to continue to operate inside established systems of enforced frauds, by noticing the superficial consequences, but deliberately not understanding the deeper causes. Indeed, the overwhelming vast majority of articles and comments that appear on Zero Hedge (which are still way better than most other Web sites, and far superior to the mainstream news), continue to deliberately underestimate the degree to which political economy was necessarily based upon frauds, because it was built on warfare that was necessarily based upon deceits.

As there continues to be exponential progress in physical sciences and technology, there is nothing like that in political science, because that would require understanding human energy systems, BUT, that necessarily discovers that society is controlled by the methods of organized crime. AROUND AND AROUND WE GO! We are winding ourselves up and up towards fits of peak insanities, because everything is controlled by lies backed by violence, while therefore, we almost totally refuse to admit that. Furthermore, the most basic ways that we think are basic aspects of that political problem.

The paradoxical ways that economics and warfare were social sciences whose success was based on frauds and deceits is driving us collectively MAD, and towards our own self-destruction. Meanwhile, somebody like Piketty, or anyone else that the mass media, or even most of the alternatives media, are going to pay any attention to, are going to continue to present fairly good analysis of the facts, when taken on their own superficial level, while then their "solutions" will collapse back to being bullshit ... And so, why then bother to actually buy and read their whole book?

Personally, I already have my "opinion" that the world is controlled by lies backed by violence, which systems have become criminally insane, and that there are no "solutions" other than for those systems to drive themselves through psychotic breakdowns. Theoretically, I believe that we should have a better understanding, that might enable us to diminish the degrees to which the debt insanities are going to provoke death insanities, and perhaps enable us to recover from that sooner and better than we otherwise would, without that better understanding of more radical truth regarding the nature of the problems of the world being almost totally directed by systems of enforced frauds. However, in practice, I see absolutely no good grounds to believe those kinds of political miracles are going to happen, since the already established systems are the ruling classes working hard to keep most people ignorant and afraid, while that appears, so far, to still be quite a successful short-term strategy.

My opinion is that our civilization is already terminally sick and insane. I merely post this comment because I know that there are a small minority of readers of Zero Hedge that may commiserate with me, and perhaps somewhat similarly indulge in my clinging to irrational hopes for a series of technological and political miracles ... none of which are remotely realistic, since neither the ruling classes, nor most of those they rule over, are even remotely interested in more radical truth regarding the ways that the established financial systems have become almost totally based on enforced frauds, which can not be better resolved unless we dealt more forthrightly with how and why human civilizations necessarily operate through the principles and methods of organized crime, as the ways that general energy systems must manifest through human civilizations.

To have a series of breakthroughs in the paradigms that govern our political processes would require correcting the errors in the philosophy of science, that were caused by the biggest bullies' bullshit world view being able to historically dominate the development of that, so that we then would begin to be able to better understand how to operate the combined money/murder systems. Without that, then we will continue to rush faster and faster towards the established systems of enforced frauds driving debt insanities towards death insanities ...

To PERHAPS survive through the coming times of Peak Insanities, which will be manifesting along with Peak Everything ELSE, we theoretically need human sciences, such as political science, to catch up to physical sciences. However, any genuine effort to reconcile general energy systems understandings with human systems necessarily ends up explaining how and why successful warfare and economics ended up being based on deceits and frauds, or, in general, why human civilizations actually operated fractally, through the principles and methods of organized crime.

Obviously, we are faced with a double whammy dilemma, that the established systems are operated as organized crimes, while their controlled opposition is based on saying we should "stop" that, which is an impossible ideal that can never work, because it is the same as saying that human systems should "stop" being general energy systems. There can be no genuine progress in the science of economics unless it is seen to be a successful science, which was based on warfare. There is no way around genuine "solutions" facing the radical truth that human civilizations necessarily must operate according to the principles and methods of organized crime. The only better resolutions to our problems would require organizing resistance to change the path of least resistance, so that we developed better dynamic equilibria between the systems of organized lies operating robberies.

Nothing I have read about Piketty indicated to me that he was doing anything remotely like that. Indeed, IF he was, then the mass media, and most of the alternative media, would have been deliberately ignoring him. That both the ruling classes, and those they rule over, deliberately deny and suppress more radical truth is, naturally, crucial to the nature of problems that we are presented with, and precisely why it appears that those problems have no good solutions, within the foreseeable future.

Mon, 07/07/2014 - 19:22 | 4933574 NidStyles
NidStyles's picture

Lay off the weed...

Mon, 07/07/2014 - 22:54 | 4934219 Radical Marijuana
Radical Marijuana's picture

Lay off the ad hominem.

Tue, 07/08/2014 - 02:49 | 4934552 MEAN BUSINESS
MEAN BUSINESS's picture

"bullshit solutions (such as relying upon the United Nations, which was set up by the banksters, to provide a forum where various professional liars and immaculate hypocrites could meet and discuss each others' lies and hypocrisies.)"

and do so in extreme comfort I would like to add! lol

Copenhagen shattered my illusions but I would like to think that I've discovered some things since then (with some credit to ZH's commentarians...). Perhaps I'm simply busying with picking up the pieces to put the illusion back together. 

Given the increasing rate of acceleration of ... EVERYTHING , I  think the events unfolding over the next 18 months are going to snowball and crash in Paris at COP21 when the world meets to INK a deal. I haven't watched 'Fight Club' but I anticipate that the typical UN bullshit won't last past day 1 of COP21 before the gloves come off.

If I put on my tinfoil hat, I say there's a good chance WWIII will break out and we will never get to 'Paris'. 

Based on the MOAR doctrine, Paris will be as you describe above.

But as Arlo Guthrie said, "there was a third possibility that we hadn't even counted upon, and we were both immediately arrested. Handcuffed," There is a possibility that certain parties are going to call the UN concept into question in this most public of ways. Paris could be the final nail in the UN coffin. In your words, Paris may produce "organizing resistance to change the path of least resistance" that won't accept typical Kyoto-esque UN bullshit solutions. Just maybe some of that good 'ol radical truth will emerge?

Then the fun will begin!

 

Your comment also reminds me of what a 12 year old girl named Severn told the UN pro liars and hypocrites in Brazil almost 25 years ago:

http://www.youtube.com/watch?v=oJJGuIZVfLM

out of the mouths of babes as they say...


Mon, 07/07/2014 - 14:55 | 4932537 alexcojones
alexcojones's picture

I'm waiting for "Tomes on Tape."

So I can fall asleep at the wheel.

Mon, 07/07/2014 - 15:10 | 4932604 Itgoestoeleven
Itgoestoeleven's picture

audible.com I listened to about 4 hours of it. It sucks to listen to it too!

Mon, 07/07/2014 - 15:02 | 4932546 falak pema
falak pema's picture

Just goes to show that the REALITY of our age,-- as presented repeatedly here by ZH in the financial domain--, CONFIRMs in FACT the deep seated statistical and historical analysis presented by Piketty, aka wealth accumulation based on sham sleight of hand over decades fuels society's ills.

You don't need to be a "rocket scientist" to understand the amazing trend of capitalistic society since BW revoke, accelerated by Reaganomics, under the Pax Americana financial monetarist Friedmanian "supply side" gun; garbed in its imposed mantra of petrodollar "our money your problem" monopoly dictat since Dear Henry's global ping-pong game.

People understand that... and using dubious slanted logic to imply that common man's scatter brained "disinterest" to apprehend a deeper understanding of financial trends shows how SHALLOW common man is, and by riccochet,  how fallacious the shamanist sleight of hand of  hard hatted "commie" Piketty's  book is.

Laughable logic,  if it wasn't a more sinister marker of a  growing reactionary trend : foul mouth your adversary's true impact on society to discredit him and his OPUS, which is factually OBVIOUS to anyone sincere of mind and sound of body. 

Recurrent psy-ops tactics of the matrix minded...throughout History. From Popes to Kings to capitalist Oligarchs. 

Mon, 07/07/2014 - 15:30 | 4932714 ncdirtdigger
ncdirtdigger's picture

Just curious, what language is that?

Mon, 07/07/2014 - 15:59 | 4932793 falak pema
falak pema's picture

one you are probably aversive to. 

You sound like that guy lying with the book on his face.

Mon, 07/07/2014 - 16:41 | 4932994 gcjohns1971
gcjohns1971's picture

Huh?

We've had economic central planning in the US (and decentralized execution) AT LEAST since the 1930's.

What's this capitalism stuff you're talking about?  Isn't that the system that might have once existed defined by the LACK OF GOVERNMENT INTERVENTION????  Adam Smith's "Invisible Hand" and all that?

Socialism is all about the redistribution from those who have the ability to those who have the need.

Of course, no two socialists agree on who are the 'Able' and who are the 'Needy'.

And the political problem with Socialists is that as soon as they get their way they splinter into factions, where all but the ruling faction complain that this isn't Socialism because THEIR preferred recipients didn't receive.

It is intellectually and morally bankrupt.

The US is Socialist.  It has been socialist since at least 1932, possibly since 1913.

To complain that it is not socialist because this group or that was the subject of redistribution rather than the object is ridiculous.  And it is disengenuous.

REDISTRIBUTION IS SOCIALISM, the rest is a discussion of priorities, objectives, and means.

This is your cake, not Adam Smith's.  Eat it.

Mon, 07/07/2014 - 16:47 | 4933019 falak pema
falak pema's picture

So... this crisis was made by WHOM? 

Those who made the FED  etc....

Just remind me who they be; the Rockefellas and the JP Morgans and the Bushes...Socialists?????

Can you hear Lenin laffing in his grave ?

Mon, 07/07/2014 - 18:14 | 4933330 Matt
Matt's picture

You think the Soviet Oligarchs were so different from American Oligarchs? The difference is in the environment, the specific details of the place they inhabited.

Both redistribute from the middle majority to the top and bottom, while claiming to be redistributing for the benefit of the poorest and most unfortunate. There were many rich and powerful party members in Moscow, with their own private subway system and private mall full of luxury goods.

Mon, 07/07/2014 - 15:05 | 4932579 MeBizarro
MeBizarro's picture

"1. 95% of economics is common sense"

Utter and complete BS otherwise 'homo economicus' would still be a valid starting place.  It isn't early 20th century anymore and 'homo economicus' belongs in a history book increasingly and not in a econometrics book. 

Mon, 07/07/2014 - 19:18 | 4933558 NidStyles
NidStyles's picture

Remember that the next time you review the definition of economics.

Mon, 07/07/2014 - 16:08 | 4932883 AchtungAffen
AchtungAffen's picture

I loves me some Piketty demonization. Quick! Someone call WB7 to create a pic of him with horns, a pointy tail, all red with sickles and hammers.

Mon, 07/07/2014 - 16:13 | 4932907 Dingleberry
Dingleberry's picture

Send all socialists to Detroit.

Let them ive amongst the consequences of their enlightened ideas.

See how they like it. 

Mon, 07/07/2014 - 16:44 | 4933004 falak pema
falak pema's picture

"send all socialists to detroit"...

To send them there you need to become a "socialist" yourself and to impose that ostracism on them. 

Why not send them then to Gitmo? 

The republic is about living with others who are not like you. Otherwise its not a Republic but Cloneistan ! 

Mon, 07/07/2014 - 19:20 | 4933566 NidStyles
NidStyles's picture

Unless you are in charge, then it's about obeying your policies....

Mon, 07/07/2014 - 16:38 | 4932982 rosiescenario
rosiescenario's picture

After reading the commentary here, I am sure my wife will enjoy this as an adudio book and it shall enable her to finally get off ambien.

Mon, 07/07/2014 - 16:49 | 4933037 gcjohns1971
gcjohns1971's picture

Putting the US 'Mixed Economy' in drag and presenting it as Capitalism is exactly like putting a sheep in drag and presenting it as a beautiful woman.

Everyone gets screwed, the weakest get fleeced, and there is no productive issue from the union.

'Mixed Economy' means 'Socialist'. 

Socialist means 'from each according to ability to each according to need".  ENFORCED REDISTRIBUTION.

The question of which ones are the needy and which the able is discussion of mechanics and priorities.

Adam Smith's "invisible hand" was replaced by government's very visible hand a century ago.

It is disengenuous to pretend otherwise.

So get that sheep out of my face.  It is YOUR SHEEP.  I want none of it.

Tue, 07/08/2014 - 10:13 | 4935157 CEBeard
CEBeard's picture

I have been reading the book, and keeping in mind that this work is an assembly of some classic theories that are taught in all basic Economics classes. While his extrapolations are interesting on an academic level, his findings, so far, are based on far to "pure" theories to be of any use other than to start discussions like those going on here. I will update as I read further.

Tue, 07/08/2014 - 11:30 | 4935412 ken
ken's picture

I never read the articles, only the titles. Why should I? I already know what it's gonna say.

Do NOT follow this link or you will be banned from the site!