Summary of Thomas Piketty's Time for Socialism

By IRB Media

Please note: This is a companion version & not the original book. Book Preview:

#1 I have tried to outline some elements for a participatory socialism in my last book. These are only a small starting point among others, and the reader should not expect them to be fully realized anytime soon.

#2 The long march toward equality and participatory socialism is already well under way. Inequalities have been reduced over the long term thanks in part to the new social and fiscal policies introduced during the twentieth century.

#3 The failure of the French Revolution was the result of the inequality drift in nineteenth-century France. In Paris, the richest 1 percent owned about 67 percent of total private property in 1910, versus 49 percent in 1810 and 55 percent in 1780.

#4 The rise of the welfare state between 1910 and 1920, and the stagnation of this state since the 1980s, has led to a certain equality of access to the basic goods of education, health, and economic and social security in Europe. However, the march toward the social state will have to resume in rich countries and be accelerated in poor countries.

• Language: English
• Publisher: IRB Media
• Release date: Jun 13, 2022
• ISBN: 9798822540248

IRB Media

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Insights on Thomas Piketty's Time for Socialism

Contents

Insights from Chapter 1

Insights from Chapter 2

Insights from Chapter 3

Insights from Chapter 4

Insights from Chapter 5

Insights from Chapter 1

#1

I have tried to outline some elements for a participatory socialism in my last book. These are only a small starting point among others, and the reader should not expect them to be fully realized anytime soon.

#2

The long march toward equality and participatory socialism is already well under way. Inequalities have been reduced over the long term thanks in part to the new social and fiscal policies introduced during the twentieth century.

#3

The failure of the French Revolution was the result of the inequality drift in nineteenth-century France. In Paris, the richest 1 percent owned about 67 percent of total private property in 1910, versus 49 percent in 1810 and 55 percent in 1780.

#4

The rise of the welfare state between 1910 and 1920, and the stagnation of this state since the 1980s, has led to a certain equality of access to the basic goods of education, health, and economic and social security in Europe. However, the march toward the social state will have to resume in rich countries and be accelerated in poor countries.

#5

The stagnation in total educational investment has contributed to the rise in inequality and the slowdown in the rate of growth of average income. This is especially true in the United States, where access to higher education is strongly influenced by parental income.

#6

The idea of educational equality is not enough to achieve real equality. The entire range of relationships of power and domination must be rethought. This requires a better sharing of power in companies.

#7

The tax and inheritance system must be used to encourage a greater circulation of property. This can be done by implementing a minimum inheritance for all, which would be funded by a combination of annual wealth taxes and inheritance taxes.

#8

There is no point in circulating power if we keep the same economic objectives. We must change the