Thursday, February 6, 2014

A Wealth Tax: Sooner Than You Think

Told you so.  The Times confirms it. Okay, it wasn't Krugman, instead some guy who looks like a grumpy banker from the '50s

but still, it's the New York Times so, like, people will be talking.  At least on the Upper West Side of Manhattan and the choicest bits of Palo Alto.

Mr Edsall (can't call the dude Tom!) writes of a new book by some French guy (no this won't be the lead story on Fox tonight):

In a 20-page review for the June issue of the Journal of Economic Literature that has already caused a stir, Branko Milanovic, an economist in the World Bank's research department, declared: "I am hesitant to call Thomas Piketty's new book Capital in the 21st Century one of the best books in economics written in the past several decades. Not that I do not believe it is, but I am careful because of the inflation of positive book reviews and because contemporaries are often poor judges of what may ultimately prove to be influential. With these two caveats, let me state that we are in the presence of one of the watershed books in economic thinking."

I can safely say, I'm more excited about this than I've ever been about any new book by a French economist.

Needless to say, I continue to believe that this argument is so obvious, it's laying there on the ground for anyone to pick up and run with and be immediately recognized by the common folk as genius.  Bill de Blasio was just the first.  Conservatives are doomed unless we (yes, we) get rid of our old schtick and invent A Conservative Response to the New Gilded Age (I just have the title, I don't have the policy yet).  Stay tuned!

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