The distribution of wealth is one of today's most widely discussed and controversial issues. But what do we really know about its evolution over the long term? Do the dynamics of private capital accumulation inevitably lead to the concentration of wealth in ever fewer hands, as Karl Marx believed in the nineteenth century? Or do the balancing forces of growth, competition, and technological progress lead in later stages of development to reduced inequality and greater harmony among the classes, as Simon Kuznets thought in the twentieth century? What do we really know about how wealth and income have evolved since the eighteenth century, and what lessons can we derive from that knowledge for the century now under way?
Thomas PikettyRelated topics
balancing century concentration development distribution dynamics eighteenth evolution harmony inequality knowledge later lead nineteenth now thought under way wealth Marx handsRelated quotes
The very name of my subject, economics, suggests economizing or maximizing. But Political Economy has gone a long way beyond home economics. Indeed, it is only in the last third of the century, within my own lifetime as a scholar, that economic theory has had many pretensions to being itself useful to the practical businessman or bureaucrat. I seem to recall that a great economist of the last generation, A. C. Pigou of Cambridge University, once asked the rhetorical question, "Who would ever think of employing an economist to run a brewery?” Well, today, under the guise of operational research and managerial economics, the fanciest of our economic tools are being utilized in enterprises both public and private.
Paul Samuelson
Our public interest depends on private character, on civic duty and family bonds and basic fairness, on uncounted, unhonored acts of decency which give direction to our freedom. Sometimes in life we are called to do great things. But as a saint of our times has said, every day we are called to do small things with great love. The most important tasks of a democracy are done by everyone. I will live and lead by these principles: to advance my convictions with civility, to pursue the public interest with courage, to speak for greater justice and compassion, to call for responsibility and try to live it as well. In all these ways, I will bring the values of our history to the care of our times.
George W. Bush
I became interested in writing this book approximately ten years ago when, having become established as a psychiatrist, I became increasingly impressed by the vague, capricious and generally unsatisfactory character of the widely used concept of mental illness and its corollaries, diagnosis, prognosis and treatment.
Although (mental illness) might have been a useful concept in the nineteenth century, today it is scientifically worthless and socially harmful.
In non-psychiatric circles mental illness all too often is considered to be whatever psychiatrists say it is. The answer to the question, Who is mentally ill? thus becomes: Those who are confined in mental hospitals or who consult psychiatrists in their private offices.
Thomas Szasz
What we demand from the Soviet architect is that, as an artist and because of his perceptive intellect, he will fully comprehend and amplify the faintest ripple of developing energies much sooner than the masses - who tend to be shortsighted as far as their own growth is concerned - and that he will transform this energy into tangible architectural form.. .The club's role is to become a University of Culture. If one accepts the premise that private dwellings should strive to operate on the basis of the greatest possible austerity, then by contrast, public dwellings should provide the maximum of available luxury accessible to all. The term 'reconstruction' is therefore not applicable to this case, since there is no building precedent in the past.
El Lissitsky
How can protection, think you, add to the wealth of a country? Can you by legislation add one farthing to the wealth of the country? You may, by legislation, in one evening, destroy the fruits and accumulation of a century of labour; but I defy you to show me how, by the legislation of this House, you can add one farthing to the wealth of the country. That springs from the industry and intelligence; you cannot do better than leave it to its own instincts. If you attempt by legislation to give any direction to trade or industry, it is a thousand to one that you are doing wrong; and if you happen to be right, it is work of supererogation, for the parties for whom you legislate would go right without you, and better than with you.
Richard Cobden