Centre for London are hosting two debates at the Labour and Conservative Party Conferences asking the question: what can London and the next government do for each other?
This year has seen senior figures in both the Labour and Conservative parties speak out in favour of greater devolution to city regions across the country. The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible.
Over the long run, ordinary labor income grows at about the same rate as the broader economy. In any case, the historical data isn't really why anyone other than specialists cares about this book. This brings us to the question we really care about: Now that we've reverted to a more ordinary r > g world, will this continue? Basically, Piketty says that historically r has been greater than g, and there's no reason to think this won't be true in the future.
Mother Jones encourages readers to sign in with Facebook, Twitter, Google, Yahoo, Disqus, or OpenID to comment. London, UK, is undisputedly the premiere global financial capital of the world in the 21st century. The "City" of London is a small enclave within the greater part of the larger city of London that is populated by an estimated 7.5 million people. The City is a major business and financial powerhouse, has a resident population of roughly 10,000 and employs roughly 350,000 professional financial managers. London has a vast critical mass of markets and financial services in commercial and investment banking, securities and derivatives, fund management, insurance and commodities. Commonly referred to as the world's new financial hub, the City houses the London Stock Exchange, Lloyds of London and the Bank of England, as well as other important financial institutions such as Barclays Bank, CitiGroup and HSBC. The extent of Jewish Rothschild control over the finances of the USA, in particular, is accomplished through direct private ownership of the US Federal Reserve system, owned by Nathan M Rothschild and Sons of London. Further control is exercised by the US Council of Foreign Relations (CFR), a cousin of the Royal Institute of International Affairs based in London. The Jewish House of Rothschild and their New World Order agenda calls for centralized control and authority over the entire planet. The fact that the richest, most powerful transnational empire on Earth is jewish should come as no suprise.
From the fevered mind of Bruce Sterling and his alter-ego, Bruno Argento, a consideration of things ahead. The year 2009 will brim over with senseless affronts toward decent people who have done their best and obeyed all the rules. If you can’t react to the misfortunes of the best people in your society, then, when do you plan to take action?
This means that we all have new chances to see eye-to-eye on major global economic issues such as currency flows and the aging population. For me personally, the greatest, latest example of Euro-American cooperation is the Cassini-Huygens spacecraft, whose radar was built by Italians.
In a world so redolent with wonder, how can we allow ourselves to conduct our daily lives with so little insight, such absence of dignity?
Once we recognize precarity as an existential threat for all, we will find the means to deal with it.
The second most common element in the universe is increasingly rare on Earth—except, for now, in America.
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Video: conversations with leading scientists and thinkers on fundamental issues and ideas at the edge of science and culture. Audio slideshow: Justine Cooper's large-format photographs of the collections behind the walls of the American Museum of Natural History. In 2009, we are celebrating curiosity and creativity with a dynamic look at the very best ideas that give us reason for optimism. In this installment of Revolutionary Minds, five people who use the new tools of science to educate, illuminate, and engage.


Leading scientists, designers, and architects on ideas like the personal genome, brain visualization, generative architecture, and collective design. Seed examines the radical changes within science itself by assessing the evolving role of scientists and the shifting dimensions of scientific practice.
On the trail of the haunts, homes, and posts of knowledge, from the laboratory to the field. In this second part of our review of Capital in the 21st Century, we look at Thomas Piketty’s ideas from the point of view of speculation and futurism, and consider some of the criticisms of the book. The referendum on Scottish independence has also put the decentralisation of powers at the forefront of the political agenda. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this. Make a tax-deductible donation to fund our reporting—or read this if you need more convincing. 8, 2014 1:51 PM EDTTweetEmailI'm having a hard time finishing Thomas Piketty's Capital in the 21st Century. It's pretty simple: Piketty's provocative thesis is extremely elementary and he makes it right in the introduction. That is, r (the return on capital) is historically greater than g (economic growth), which means that rich people with capital will always see their incomes grow faster than ordinary wage slaves. After all, the world has been ticking along for centuries, and somehow the rich have not, in fact, accumulated 99.9 percent of the world's income despite more than a thousand years of r being greater than g. I started skipping through the book to find Piketty's answer, and I was disappointed at what I found.
I'm really doing nothing except admitting that I'm not sure what everyone else sees that I don't. Help hold the powerful accountable by funding our reporting with a tax-deductible donation today.
Well-connected, well-educated, capable people who are pillars of the community will be ruined. What further excuse do you require to put aside your personal selfishness and learn to think politically? Below this thin shell of labor-management relations is the deeper, more primal nature of European precarity. In 2004, this baroque, elephant-sized spacecraft lumbered with stately dignity into the orbit of Saturn, where, like Marco Polo, it proceeded to boggle the collective mind with a whole panoply of new worlds. We should discover that there is no objective need for such precarity; the planet Earth should not be run as a fire sale.
It offers a golden chance to bury our dead prejudices and learn how to properly feed the living. Snow raised about science and the humanities 50 years by asking six great thinkers, Where are we now?
Last week in Part 1, we covered the book’s basic ideas about how to measure and talk about inequality, so if missed that check it out first. We’ll be asking how the next government can help London build on its success and make a stronger contribution to the UK, and what Londoners will be looking for in the next election.
The rest of the book is a lengthy succession of charts and tables demonstrating that, historically, r really is greater than g. Oh, he addresses some technical issues, like the fact that a glut of capital should reduce the return on capital, but basically that's his argument. But while the details are of keen interest to specialists and practitioners, the gist of his argument is simply that the future will probably look like the past. As a data-gathering exercise, this book is unquestionably a tour de force, and I'm truly not trying to slight Piketty's seminal achievement here.
The condition of losing one’s safety and security, of losing predictability and the ability to rationally plan ahead, the condition of being humiliated and in danger. It is found in our time-honored European predilection for abject misery, political extremism, totalitarian violence against the dignity of the individual, and world wars. Just one example: Cassini-Huygens showed us that the minor moon of Enceladus has hot, liquid-water geysers blasting out of its icy south pole.


Precarity was supposed to be for the little people; when it is for everybody, its absurdity is manifest.
Shorter work weeks give us the chance to rejoin civil society, to re-establish trust with neighbors turned strangers, to engage in some convivial joie de vivre over healthy, genuine cuisine, instead of ridiculous cardboard-packaged fast food.
Once we stop shaking all over and scolding Americans, we will recognize the tremendous potential this new century offers the people of the world. In this follow-up we cover Piketty’s demographic projections and whether they hold up in a world of AGI or emulated brains, as well as whether Baby Boomers will live forever and perpetually own the world.
This means that over the course of, say, 50 years, labor income will increase about 3x while capital stocks will increase about 9x. Since I was pretty easily persuaded of this, I had a hard time slogging through all the details. In the past r has almost always been greater than g, and we'd be foolish to think that's likely to change. That's certainly plausible, but I'm frankly having a hard time plowing through a ton of background material in support of such a simple thesis. But as a layman's guide to the future (and it's explicitly written for a lay audience), Capital has little to say except that current trends will probably continue.
Therefore rich people get richer faster than ordinary wage earners and income inequality inexorably rises.
Or one could describe it as a wary, street-smart understanding that some fellow citizen just caught it in the neck for no good reason, and that you yourself could easily be next.
They are being flung about like flotsam, and the precarity once reserved for blue-collar workers is now inside the corner office and the corporate boardroom as well. No science fiction writer ever predicted this, but there seems to be a dense organic soup merrily boiling away inside that moon, a steaming orb something like an espresso machine.
In cold fact, a financial crisis is one of the kindest and mildest sorts of crisis a civilization can have. It might be unreasonable to expect more, since obviously no one can predict the future, but I guess I expected more anyway.
If we stopped pretending to be puppets of an invisible hand, we would not fret over the loss of the 20th century’s strings. And since rich people have by far the bulk of all capital income, income inequality inevitably grows forever unless something stops it. The rich get richer for a while, but then they lose it all during periods of war, and the cycle starts all over.
Piketty thinks the only answer is a global wealth tax, which he admits is a political nonstarter. It would be poetically appropriate if an Italian spacecraft made the greatest discovery since Columbus. It would do you good to see wealthy Indians and Chinese gourmets venturing to sample the cheeses (likely the world’s greatest) available from local producers. That's what happened in the 20th century: The rich were obscenely wealthy early on, and then came World War I, the Great Depression, and World War II.
It does not help us sustain our precious cultural heritage or our natural heritage, the planet’s priceless biodiversity. Nevertheless, I started it once, put it down, finally picked it up again, and still haven't finished it. That wiped out lots of wealth, and the postwar rebuilding era was one of those rare eras when g was actually greater than r. Our tourist trade is so old and well established that we should perhaps build monuments to it.




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