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Every human society must justify its inequalities: unless reasons for them are found, the whole political and social edifice stands in danger of collapse.
“Alternation between parties is normal in a democracy, and these Democratic victories were in part a consequence of the voters’ natural fatigue with the Republicans, who had also been tarnished by various financial scandals, as often happens to parties in power.”
― Capital and Ideology
― Capital and Ideology
“And I’m with Alan Greenspan, who—surprisingly, given his libertarian roots—has repeatedly warned that growing inequality poses a threat to “democratic society.” It may take some time before we muster the political will to counter that threat. But the first step toward doing something about inequality is to abandon the 80–20 fallacy. It’s time to face up to the fact that rising inequality is driven by the giant income gains of a tiny elite, not the modest gains of college graduates.”
― Arguing with Zombies: Economics, Politics, and the Fight for a Better Future
― Arguing with Zombies: Economics, Politics, and the Fight for a Better Future
“At this stage, I will simply insist on a conclusion we have encountered before: namely, that it is impossible to understand the structure of inequality today without taking into account the heavy inegalitarian legacy of slavery and colonialism.”
― Capital and Ideology
― Capital and Ideology
“South Africa, Brazil, and the Middle East stand at the frontier of modern inequality, with top decile shares of 55–65 percent.”
― Capital and Ideology
― Capital and Ideology
“Between 1880 and 1914 the world was in perpetual flux. The automobile, the electric light, the trans-Atlantic steamship, the telegraph, and radio—all were invented in the space of a few decades. The economic and social consequences of those inventions were surely as important as those of Facebook, Amazon, and Uber. The point is crucial, because it shows that the hyper-inegalitarianism of the prewar era was not a consequence of a bygone era with little or no similarity to today’s world. In fact, the Belle Époque resembles today’s world in many ways, even if essential differences remain.”
― Capital and Ideology
― Capital and Ideology
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Iuri’s 2025 Year in Books
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