Moneypiketty

In the discussion thread: Capital in the Twenty-First Century [View all]

Response to Myriel (Reply #6)

Tue May 13, 2014, 08:43 PM

9. People working less is not necessarily a bad thing.

Last edited Wed May 14, 2014, 03:30 AM - Edit history (1)

Especially in an economy with such high unemployment. I would argue that people working less would actually be a good thing because it would free up more jobs for those who are unemployed. Increased consumption is also not a bad thing. Increased demand is good for the economy. And I would argue that the benefits of redistributing wealth more equally would far outweigh the benefits we get from a large capital stock. I agree with part of what you said about the UBI, and I am certainly in favor of a job guarantee program. But I think that both should be implemented because in my opinion people shouldn't have to work in order to provide themselves with basic necessities. The UBI should obviously be less than what you can make working, so that incentive to work is still there. And I'm not talking about luxury condos, but modest public housing should be available to anyone who cannot afford to buy or rent their own home. I'm not particularly worried about the price inflation for public colleges. Especially since, like you said, people who attend college earn substantially more than those who don't. Which means there will be a larger tax base if everyone is offered the opportunity to go to college. The government will be able to handle the inflation, I'm more worried about the students who are having to pay thousands of dollars right now. I'd like to see a system where anyone who wants to go to college will be able to do so regardless of their financial status.

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