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  • Author: Nancy Birdsall
  • Publication Date: 02-2015
  • Content Type: Journal Article
  • Journal: Ethics & International Affairs
  • Institution: Carnegie Council
  • Abstract: Thomas Piketty's Capital in the Twenty-First Century is a tour de force—a compelling and accessible read that presents an eloquent and convincing warning about the future of capitalism.* Capitalism, Piketty argues, suffers from an inherent tendency to generate an explosive spiral of increasing inequality of wealth and income. This inegalitarian dynamic of capitalism is not due to textbook failures of capitalist markets (for example, natural monopolies) or failures of economic institutions (such as the failure to regulate these monopolies), but to the way capitalism fundamentally works. Unless the spiral is controlled by far more progressive taxation than is now the norm, the political fallout could undermine the viability of the successful “social state” (p. 471) in the advanced economies, putting the democratic state itself at risk.
  • Topic: Economics, Government, Politics
  • Political Geography: United States, United Kingdom, France
  • Author: Stephen M. Walt
  • Publication Date: 02-2014
  • Content Type: Journal Article
  • Journal: Ethics & International Affairs
  • Institution: Carnegie Council
  • Abstract: Special Responsibilities: Global Problems and American Power, Mlada Bukovansky, Ian Clark, Robyn Eckersley, Richard Price, Christian Reus-Smit, and Nicholas Wheeler (Cambridge: Cambridge University Press, 2012), 290 pp., $29.99 paper. Former secretary of state Madeleine Albright famously described the United States as the “indispensable nation,” entitled to lead because it “sees further than others do.” She was one of the many government officials who believed their country had “special responsibilities,” and was therefore different in some way from other states. Such claims are sometimes made to rally domestic support for some costly international action; at other times they are used to exempt a great power from norms or constraints that weaker states are expected to follow.
  • Topic: Government
  • Political Geography: United States, America, Europe