Very briefly: Tom Usher on Dani Rodrik's take on Capital in the Twenty-First Century

"... the return to capital, r, may well start to decline if the economy becomes too rich in capital relative to labor ...."

Source: Dani Rodrik explains why Capital in the Twenty-First Century has become so successful in the US. - Project Syndicate.

Dani Rodrik is one smart fellow. However, I say not "may well" but will. Labor (workers; the employed) must have the incomes to pay for the goods and services creating the return. This is why socialism of a more advanced sort is inevitable in the quickly advancing Robotic Age.

Tom1

Tom Usher

  • Subscribe
  • Tom Usher

    About Tom Usher

    Employment: 2008 - present, website developer and writer. 2015 - present, insurance broker. Education: Arizona State University, Bachelor of Science in Political Science. City University of Seattle, graduate studies in Public Administration. Volunteerism: 2007 - present, president of the Real Liberal Christian Church and Christian Commons Project.
    This entry was posted in Uncategorized. Bookmark the permalink.