The latest hero for the Left is French economist Thomas Piketty.
"...Obama White House Rolled Out The Red Carpet For Him..."
Who Is Thomas Piketty And Why Has The Obama White House Rolled Out The Red Carpet For Him? - Hunter Lewis - Page 1
The reason for said the Left's 'crush' is that Mr. Piketty has handed liberals a "coherent framework that justifies the discomfort that they probably already felt about the wealth gap."
Thomas Piketty Capital: How America?s liberals fell for a French economist.
What do they mean?
They mean that Piketty gives the Obamunists some sort of basis for their attack on the free-market, "income inequality."
Of course, the more astute realize that "income inequality" is really just an attempt to change the conversation from ObamaCare.
If one would like to see an article that makes fear of the 'income inequality' the joke that it is, well, consider reading the thread right here:
http://www.usmessageboard.com/economy/351375-income-inequality-so-what.html
But, if a more credentialed view is required, Professor Mark R. Rank, a leading national expert on poverty and a professor at the George Warren Brown School of Social Work, does a thorough job of it.
Dr. Rank refers to Piketty's view as "cargo cult economics'..."any of various Melanesian religious groups characterized by the belief that material wealth (as money or manufactured goods) can be obtained through ritual worship."
Cargo cult - Definition and More from the Free Merriam-Webster Dictionary
1. " Economics is much more akin climatology than to real science. It is larded with theories that are simply not falsifiable.... can work backwards from a known point but are unable to predict an outcome, and adherence to fads and a good publicist are more important to success than actually being accurate.
a. "... the basic idea is that if the government creates something that is associated with a vibrant middle class then a vibrant middle class will spring from that program.... right in the middle of boarded up store fronts some governmental agency had plopped down an arts center.
The idea being that somehow funding an arts center in a mostly deserted downtown would revive the downtown area because affluent downtowns all have arts centers." Obamacare Meets Reality. Reality Wins. | RedState
b. In short, cargo cult economics is the seizing upon an indicator of a successful outcome (say, a community arts center) and using that factor as a way of creating a successful outcome.
2. The book that is all the rage on the left is a dense economic tome called Capital in the 21st Century by a French and Marxist economics professor called Thomas Piketty. It epitomizes cargo cult economics well blended with the vice of greed and a disregard for the whole thou shalt not covet thing....
3. Piketty purports to trace the history of the concentration of wealth since the 18th century, which really cant be done for lack of data and rational points of comparison, and claims that capitalism inevitably produces a divide between those who have capital (capitalists) and those who work for wages (the proletariat) stop me if youve heard this one before.
a. .... he also sees anyone with property or savings as a threat to democracy. "
Thomas Piketty, Wealth Inequality and Cargo Cult Economics | RedState
...after all, "You didn't build, save, earn that......"
Considering all of Obama's other failures, this love affair with Piketty.....
....just one more.
"...Obama White House Rolled Out The Red Carpet For Him..."
Who Is Thomas Piketty And Why Has The Obama White House Rolled Out The Red Carpet For Him? - Hunter Lewis - Page 1
The reason for said the Left's 'crush' is that Mr. Piketty has handed liberals a "coherent framework that justifies the discomfort that they probably already felt about the wealth gap."
Thomas Piketty Capital: How America?s liberals fell for a French economist.
What do they mean?
They mean that Piketty gives the Obamunists some sort of basis for their attack on the free-market, "income inequality."
Of course, the more astute realize that "income inequality" is really just an attempt to change the conversation from ObamaCare.
If one would like to see an article that makes fear of the 'income inequality' the joke that it is, well, consider reading the thread right here:
http://www.usmessageboard.com/economy/351375-income-inequality-so-what.html
But, if a more credentialed view is required, Professor Mark R. Rank, a leading national expert on poverty and a professor at the George Warren Brown School of Social Work, does a thorough job of it.
Dr. Rank refers to Piketty's view as "cargo cult economics'..."any of various Melanesian religious groups characterized by the belief that material wealth (as money or manufactured goods) can be obtained through ritual worship."
Cargo cult - Definition and More from the Free Merriam-Webster Dictionary
1. " Economics is much more akin climatology than to real science. It is larded with theories that are simply not falsifiable.... can work backwards from a known point but are unable to predict an outcome, and adherence to fads and a good publicist are more important to success than actually being accurate.
a. "... the basic idea is that if the government creates something that is associated with a vibrant middle class then a vibrant middle class will spring from that program.... right in the middle of boarded up store fronts some governmental agency had plopped down an arts center.
The idea being that somehow funding an arts center in a mostly deserted downtown would revive the downtown area because affluent downtowns all have arts centers." Obamacare Meets Reality. Reality Wins. | RedState
b. In short, cargo cult economics is the seizing upon an indicator of a successful outcome (say, a community arts center) and using that factor as a way of creating a successful outcome.
2. The book that is all the rage on the left is a dense economic tome called Capital in the 21st Century by a French and Marxist economics professor called Thomas Piketty. It epitomizes cargo cult economics well blended with the vice of greed and a disregard for the whole thou shalt not covet thing....
3. Piketty purports to trace the history of the concentration of wealth since the 18th century, which really cant be done for lack of data and rational points of comparison, and claims that capitalism inevitably produces a divide between those who have capital (capitalists) and those who work for wages (the proletariat) stop me if youve heard this one before.
a. .... he also sees anyone with property or savings as a threat to democracy. "
Thomas Piketty, Wealth Inequality and Cargo Cult Economics | RedState
...after all, "You didn't build, save, earn that......"
Considering all of Obama's other failures, this love affair with Piketty.....
....just one more.