Tag: Thomas Piketty

Has There Ever Been a Better Patron of the Arts Than the CIA?

Countering Thomas Piketty’s critique of inherited wealth, Tyler Cowen suggests that such dynastic accumulations of private wealth may be a precondition of great art: Piketty fears the stasis and sluggishness of the rentier, but what might appear to be static blocks of wealth have done a great deal to boost dynamic productivity. Piketty’s own book was published by the Belknap Press imprint of Harvard University Press, which received its initial funding in the form of a 1949 bequest from Waldron Phoenix Belknap, Jr., an architect and art historian who inherited a good deal of money from his father, a vice president of Bankers Trust. (The imprint’s funds were later supplemented by a grant from Belknap’s mother.) And consider Piketty’s native […]

How We Do Intellectual History at the New York Times

You see, says Sam Tanenhaus, it’s not just that Thomas Piketty may be right, or that he’s been doing this research for years, or even that he’s tapping into widespread concerns about inequality. No, it’s that every decade, America needs an icon of ideas, who embodies in her person (rather than her arguments), the dream life of the nation. In the 1960s, it was Susan Sontag. In the 1970s, it was Christopher Lasch. In the 1980s, it was Allan Bloom. In the 1990s, it was Francis Fukuyama (who wrote his essay in 1989, but decades will be decades). In the 2000s, it was Samantha Power. Yes, Robert Putnam was a “gifted thinker,” but remember the Rule of Decades: you can […]

Tyler Cowen is one of Nietzsche’s Marginal Children

Tyler Cowen reviews Thomas Piketty: Piketty fears the stasis and sluggishness of the rentier, but what might appear to be static blocks of wealth have done a great deal to boost dynamic productivity. Piketty’s own book was published by the Belknap Press imprint of Harvard University Press, which received its initial funding in the form of a 1949 bequest from Waldron Phoenix Belknap, Jr., an architect and art historian who inherited a good deal of money from his father, a vice president of Bankers Trust. (The imprint’s funds were later supplemented by a grant from Belknap’s mother.) And consider Piketty’s native France, where the scores of artists who relied on bequests or family support to further their careers included painters […]

Three Theses (not really: more like two graphs and a link) on Nazism and Capitalism

Commenters on my little Nazism and capitalism post are claiming that the graph tells us nothing about the Nazis and capitalism; it only tells us that the economy improved under the Nazis. As it did in the United States under FDR. So maybe the graph plotting capital’s return under Nazism just shows general improvement in the economy in the 1930s, an improvement widely shared throughout the industrial world? Luckily, Suresh Naidu, the kick-ass economist at Columbia, supplied me with the following graphs. This first graph, which comes from Thomas Piketty’s Capital in the Twenty-First Century, compares the share of national income that went to capital in the US and in Germany between 1929 and 1938. Suresh tells me that the share […]