A Quote by Thomas Piketty
Market forces and capitalism by themselves aren't sufficient to ensure the common good and to limit the concentration of wealth at levels that are compatible with democratic ideals.
Related Quotes
Capitalism and market forces are very powerful in producing wealth and innovation. But we need to ensure that these forces act in the common interest.
Democracy is not compatible with capitalism but is congruent with a version of democratic socialism in which the wealth, resources, and benefits of a social order are shared in an equitable and just manner.
What is the most effective, practical way of raising the wealth of nations? What causes wealth? I have come to think that the dream of democratic socialism is inferior to the dream of democratic capitalism, and that the latter's superiority in actual practice is undeniable.
One way to have broader access to wealth is to reduce the tax on the large group and increase the tax on the very top so concentration of wealth doesn't get to extreme levels.
The art of wealth-getting which consists in household management, on the one hand, has a limit; the unlimited acquisition of wealth is not its business. And therefore, in one point of view, all riches must have a limit; nevertheless, as a matter of fact, we find the opposite to be the case; for all getters of wealth increase their hard coin without limit.
We do not have free market capitalism in America; we have crony capitalism. There is a huge difference between free market capitalism that democratizes a country and makes us more efficient and prosperous and corporate crony capitalism.
We can make market forces work better for the poor if we can develop a more creative capitalism-if we can stretch the reach of market forces so that more people can make a profit, or at least make a living, serving people who are suffering from the worst inequities. ... You have more than we had; you must start sooner, and carry on longer.
Let’s begin with capitalism, a word that has gone largely out of fashion. The approved reference now is to the market system. This shift minimizes - indeed, deletes - the role of wealth in the economic and social system. And it sheds the adverse connotation going back to Marx. Instead of the owners of capital or their attendants in control, we have the admirably impersonal role of market forces. It would be hard to think of a change in terminology more in the interest of those to whom money accords power. They have now a functional anonymity.
Governments should end the extreme concentration of wealth in order to end poverty. This means tackling tax dodging but also increasing taxes on wealth and high incomes to ensure a more level playing field and generate the billions of dollars needed to invest in healthcare, education, and job creation.
There are different ways to organise capitalism. Free-market capitalism is only one of them-and not a very good one at that.
We want capitalism and market forces to be the slave of democracy rather than the opposite.
Ignorance, as well as disapproval for the natural restraints placed on market excesses that capitalism and sound markets impose, cause our present leaders to reject capitalism and blame it for all the problems we face. If this fallacy is not corrected and capitalism is even further undermined, the prosperity that the free market generates will be destroyed.
The concentration of wealth is a natural result of this concentration of ability, and regularly recurs in history. The rate of concentration varies (other factors being equal) with the economic freedom permitted by morals and laws.
I am a conservative Republican, a firm believer in free market capitalism. A free market system allows all parties to compete, which ensures the best and most competitive project emerges, and ensures a fair, democratic process.
Capitalism and the market are presented as synonymous, but they are not. Capitalism is both the enemy of the market and democracy.
A fraternity is an association of men, selected in their college days by democratic processes, because of their adherence to common ideals and aspirations.
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