Bernie Sanders is not the same as Jimmy Carter, Bill Clinton, and Barack Obama. Sanders is not a neoliberal

The Reason Why We Should be Depressed About Bernie Sanders' Success

by Charles Mudede • Feb 9, 2016 at 11:35 am

The key and devastating idea in Thomas Piketty's masterpiece Capital in the Twenty-First Century, an idea that many missed or failed to appreciate, is that there is no law-like link between democracy and capitalism. As he points out at the beginning of the book, there was after the Second World War great belief in the Kuznets Curve. The economist Simon Kuznets devised this hypothesis, which was eagerly accepted by those on the right and the left of his time (the 1950s). By using tax records, he saw a movement in the history of capitalism that began with things being very unequal and brutal for the poor to, step by step, things being more equal and democratic. It was therefore a law of capitalism that, as it accumulated more wealth, more of this wealth was distributed downward.

But what did Piketty show? This curve was not a law but the result of a historical accident.


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