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Book Review: Piketty’s Time for Socialism

Summary:
Timestamps 0:00:00 - Introduction 0:04:25 - Summary of "Time for Socialism" 0:06:40 - Equality of outcomes and wealth inequality 0:23:10 - Equality of outcomes, minimum standards, and public provision 0:29:25 - The example of the Soviet Union, public provision, and incentives 0:35:24 - Government provision, income provision, choice, and opportunities 0:44:37 - Power sharing: Within firms 0:50:22 - Power sharing: Within societies 0:56:33 - Universality and equality 1:00:03 - Trade-offs and the issue of assuming a fixed pie 1:05:23 - Concluding concerns A text version (blog post) of this video is available at TVHE: http://www.tvhe.co.nz/2021/12/29/book-review-time-for-socialism/ The videos and most of the pictures were provided by the site https://www.pexels.com/ A list of sources noted

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Timestamps

0:00:00 - Introduction

0:04:25 - Summary of "Time for Socialism"

0:06:40 - Equality of outcomes and wealth inequality

0:23:10 - Equality of outcomes, minimum standards, and public provision

0:29:25 - The example of the Soviet Union, public provision, and incentives

0:35:24 - Government provision, income provision, choice, and opportunities

0:44:37 - Power sharing: Within firms

0:50:22 - Power sharing: Within societies

0:56:33 - Universality and equality

1:00:03 - Trade-offs and the issue of assuming a fixed pie

1:05:23 - Concluding concerns



A text version (blog post) of this video is available at TVHE: http://www.tvhe.co.nz/2021/12/29/book-review-time-for-socialism/



The videos and most of the pictures were provided by the site https://www.pexels.com/



A list of sources noted are provided below:



The book can be found on Amazon here: https://amzn.to/3JmuqY8



The TVHE review of Capital can be found here: http://www.tvhe.co.nz/2014/04/22/book-review-capital/



A follow up post on Capital is also here: http://www.tvhe.co.nz/2014/04/23/some-misconceptions-about-capital-in-the-21st-century/



The book Capital in the 21st Century can also be found on Amazon here: https://amzn.to/3JryWVw



A link to the land tax article is here: https://www.infometrics.co.nz/the-taxing-issue-of-land/



The Soviet Union GDP figures come from here https://voxeu.org/article/soviet-economy-1917-1991-its-life-and-afterlife



The final income studies noted are: Harding. Lloyd & Warren 2006: The Distributional Effects of Government Spending and Taxation https://www.levyinstitute.org/publications/?docid=821, Auten Splinter 2019 http://davidsplinter.com/AutenSplinter-Tax_Data_and_Inequality.pdf, and https://eml.berkeley.edu/~saez/SaezZucman2020JEP(NBER).pdf



The discussion on wealth tax revenue, and compliance revenue are found in https://gabriel-zucman.eu/files/saez-zucman-responseto-summers-sarin.pdf and https://www.nber.org/papers/w27571



Balboni etal 2021 and the discussion of a capital allowance can be found here: https://economics.mit.edu/files/21191



The UCC and investment paper is here: https://www.researchgate.net/publication/351972162_Taxation_user_cost_of_capital_and_investment_behaviour_of_New_Zealand_firms



The government spending ratios can be found here: https://ourworldindata.org/government-spending



The global income inequality plots can be found here: https://www.vox.com/policy-and-politics/2018/2/2/16868838/elephant-graph-chart-global-inequality-economic-growth
Thomas Piketty
Thomas Piketty (7 May 1971) is a French economist who works on wealth and income inequality. He is a professor (directeur d'études) at the École des hautes études en sciences sociales (EHESS), associate chair at the Paris School of Economics and Centennial professor at the London School of Economics new International Inequalities Institute.

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