Wednesday, May 14, 2014

The problem with Thomas Piketty: “Capital” destroys right-wing lies, but there’s one solution it forgets - Salon.com

The problem with Thomas Piketty: “Capital” destroys right-wing lies, but there’s one solution it forgets - Salon.com:
by Thomas Frank
Thomas Piketty’s biggest blind spot is that he has virtually nothing to say about labor unions. He starts Chapter 1 of “Capital” with an anecdote about a bloody strike in South Africa and he returns to that same tragic episode at the very end of the book, but in between he addresses the matter almost not at all. Piketty talks a good game about democracy, but like other economists who have made inequality their subject, he prefers solutions that are handed down from the lofty heights of expertise.
The best remedy for inequality, however, is the one that comes up from below. Economists may not think very highly of those hardened people in SEIU t-shirts—some of them smoke too much, some are suspicious of “free trade,” some of them (gasp!) didn’t go to college—but the fact remains that in nearly every particular they represent the obvious and just about the only social force on the ground in America that might bend the inequality curve the other way.
It is not a coincidence that labor’s rise in the 1930s happened at the same time as the One Percent’s fall from grace, nor is it a coincidence that labor’s long decline has been almost a mirror image of the One Percent’s recovery of its nineteenth-century heaven. These things happened the way they did because labor’s most basic function is to turn the bright light of democratic scrutiny on economic power. When labor is strong, our composers write things like “Fanfare for the Common Man” and blue-collar workers buy cars and boats and snowmobiles. When labor is weak, we bow down before “job creators” and McMansions sprout like mushrooms after a rainstorm.

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