Wednesday, December 31, 2014

Libertarian Economic Professor Answers Socialist Professor Thomas Piketty

Professor Thomas DiLorenzo reports:
I’m always amazed at how Marxist academics always — always — pretend to be taking the moral high road while associating themselves with the ideology of mass murder and the obliteration of human civilization that was responsible for the death of hundreds of millions during the last century.

The latest “hero” among academic Marxists is one Thomas Piketty, a French Marxist economist who has written what he considers to be an updated version of Karl Marx’s Das Kapital. His book, Capital in the 21st Century, has drawn praise from leftist ideologues everywhere, especially his most fawning fan, Paul Krugman.

It’s the same old story: Isn’t “inequality” horrible. The state must steal from the productive class and give their money to the parasitic class (while paying economic advisors like Thomas Piketty and Jonathan Gruber handsome consulting fees to “justify” it all).

In a nutshell, Thomas Piketty’s book can be summarized by the following syllogism: 1). Socialism has always and everywhere been a colossal disaster for humanity; 2) Just about everyone knows this; 3) therefore, we need more socialism.
Professor DiLorenzo explains the economics behind Thomas Piketty and Jonathan Gruber. Where would the rent-seeking society be without greedy intellectuals weaving apologies for large scale theft?