Technologos on fundamental flaws of the capitalism Wall Street ethics of greed while musing on Thomas Piketty’s “Capital in the Twenty-First Century” blockbuster

Musing on new yorkers  dwellers divide of very rich and very poor clans with anxiety about the foundations of the U.S. finances economy at Washigton square stroll in the Village while at NYU attending a  panel debating Thomas Piketty’s “Capital in the Twenty-First Century” blockbuster  who predicts  “we will all be poorer in the future in every way and that creates crisis. I have proved that under the present circumstances capitalism simply cannot work.” http://www.huffingtonpost.com/2014/04/22/thomas-piketty-amazon_n_5191566.html There is no reason to believe that capitalism can ever solve the problem of inequality, which he insists is getting worse rather than better. From the banking crisis of 2008 to the Occupy movement of 2011, this much has been intuited by ordinary people. The singular significance of his book is that it proves “scientifically” that this intuition is correct. http://www.theguardian.com/books/2014/apr/13/occupy-right-capitalism-failed-world-french-economist-thomas-piketty There is a fundamentalist belief by capitalists that capital will save the world, and it just isn’t so. Not because of what Marx said about the contradictions of capitalism, because, as I discovered, capital is an end in itself and no more. But although his diagnosis is accurate and compelling, it is hard, almost impossible, to imagine that the cure he proposes – tax and more tax – will ever be implemented in a world where, from Beijing to Moscow to Washington, money, and those who have more of it than anyone else, still calls the shots.