a thoughtful web.
Good ideas and conversation. No ads, no tracking.   Login or Take a Tour!
comment
kleinbl00  ·  2549 days ago  ·  link  ·    ·  parent  ·  post: The fading American dream: Trends in absolute income mobility since 1940

It was a link knee deep in this:

Which was knee-deep in something else even more abstract that I've forgotten.

Your addendum addresses the Golden Age of Capitalism which is kind of...

So... part of the problem is that most of our big economic thinking these days is based on studying this particular era. Chicago school? All Golden Age of Capitalism. What's the alternative? Austrian school... which was all about the former Prussian empire as Kaiser Wilhelm ramped up to start WWI. Anything else? Fringe economics. But historically speaking, economics doesn't look like a big pre-war or post-war economic boom. Historically speaking, economics is just one dimension of "nasty brutish and short." I don't think it's a coincidence that economists started noticing the Austrian school again right about the time the OPEC crisis hit, stagflation blew up the world and Reagan started calling for Morning in America.

I harp on Piketty a lot but fuckin'A if the dude didn't do the math. And while he didn't explicitly say "the postwar economic boom is entirely due to the redistribution of the wealth of Jews", he made a pretty good case. Tony Judt made that point explicitly about Europe, Richard Pipes made the same about the Soviet Union. Violent wealth redistribution is pretty good for the middle class; you could damn near make the same argument for Henry VIII's confiscation of papal properties and for the Lutherans' reign of terror. Kill the guys with the money and suddenly there's more money to go 'round.

But there isn't the kind of data you'd like to really make the study. Piketty did his best. Problem is, the further back you go, the fewer unbiased sources you're likely to find. Losers don't get to write history.