Piketty in 8 Minutes

This is my summary of the key concepts in "Capital in the 21st Century".
Picture Credits:
Piketty: Gobierno de Chile, CC BY 2.0, via Wikimedia Commons

[@JanCRT]

Great video!!

[@user-qc3ir5jo6r]

You are an amazing youtuber! Thank you for posting these videos.

[@ronaldronald8819]

Thanks for explaining in clear simple terms. I was looking for reasons why society is destabilizing, just out of interest. It seems to me growing inequality " Return > Growth " is a important factor.

[@Rnankn]

Economic growth, both scale and speed, exceed the carry capacity of the planet, and the rate at which nature regenerates. Financial capital creates more money by issuing debt, at which point it does not create the interest. So there is simultaneously never enough money and too much debt. More economic activity is required to attempt to pay debt, which means the poor and indebted must convert more of nature and resources into commodities. Production, consumption and disposal. Yet, the ever growing pools of money are claims on future resources which exceeds their ever diminishing supply. Depletion and supply constraints should cause money to lose value, but interest rates are adjusted to increase the cost of capital and therefore on a relative basis devalue nature and people - thus preserving the value of capital and saving capitalism. And as the wealthy realize their money exceeds the supply of resources, they purchase all of the assets, and rely on a system of debt bondage and rent seeking to maintain their lifestyles. As feudalism returns, human civilization enters a new dark ages on a dying, increasingly uninhabitable planet.

[@FinAndEcon]

I do not agree fully. Think about this: Not all economic activity is bad for the planet (e.g. planting trees).