IT IS RARE FOR ECONOMICS BOOKS TO FLY OFF THE SHELVES IN HUNDREDS OF THOUSANDS .
WE SEE A PATTERN HERE LIKE HOW DAS KAPITAL FLEW OFF THE SHELVES
BRAAAYYYYYYYYYYYYYYYYY
PIKETTY’S 577-PAGE CAPITAL IN THE TWENTY-FIRST CENTURY, WAS AN UNEXPECTED BESTSELLER, BASED ON A SIMPLE PREMISE – THAT THE DYNAMICS OF WEALTH ACCUMULATION ARE CAUSING GLOBAL INEQUALITY LEVELS TO WIDEN..
THIS BOOK IS A MODERN-DAY SUCCESSOR TO KARL MARX'S DAS KAPITAL,
ROCK STAR" ECONOMIST THOMAS PIKETTY HAS THE WORLD AT HIS FEET. KOSHER BIG BROTHER SPONSORS HIM..PIKETTY BABY HAD LECTURED AT THE WHITE HOUSE, THE INTERNATIONAL MONETARY FUND AND THE UNITED NATIONS.
PAUL KRUGMAN, WRITING IN THE NEW YORK REVIEW OF BOOKS, SAYS PIKETTY'S WORK WILL "CHANGE BOTH THE WAY WE THINK ABOUT SOCIETY AND THE WAY WE DO ECONOMICS".
HE DOES NOT PROVIDE A VERY SOUND GUIDE TO POLICY. AND DESPITE ITS GREAT AMBITIONS, HIS BOOK IS NOT THE ACCOMPLISHED WORK OF HIGH THEORY THAT ITS TITLE, LENGTH, AND RECEPTION SUGGEST.
"MY OBJECT IS TO MAKE PEOPLE THINK," SAID PIKETTY
TEE HEEEEEEEEE
VADAKAYIL CAN FIT THE INTELLECT OF A MILLION PIKETTYS UNDER THE FORESKIN OF HI UNCIRCUMCISED PRICK AND HAVE SPACE FOR 99.99% MORE..
- IMPORTANT:
CHINA IS GIVING INDIA PIN PRICKS IN THIS HOUR OF PANDEMIC BY BORDER INCURSIONS.
CHINA HAD DONE IT BEFORE AT DOLKAM , THREATENING FIRE AND BRIMSTONE, AND THEN GAVE UP—AS PRESIDENT XI FEARED HIS OWN PEOPLE WOULD HANG HIM … BASED ON THE POST BELOW--
READ BOTH PARTS OF THE POST BELOW—
http://ajitvadakayil.blogspot.com/2017/07/can-china-afford-war-with-india-come-on.htmlINDIA WILL NOW PUNISH CHINA BY BLAMING CHINA FOR SPREADING COVID-19 PANDEMIC.USA MUST TAKE THE LEAD BY CANCELLING ONE TRILLION USD DEBT TO CHINA, AS A PUNISHMENT AND REPARATION FOR SCREWING THIS PLANET..
CHINA OWNS ABOUT $1.1 TRILLION IN U.S. DEBT, CHINA INVESTS HEAVILY IN U.S. TREASURY BONDS TO KEEP ITS EXPORT PRICES LOWER.
Capt ajit vadakayil
..
THOMAS PIKETTY BABY..
LET ME INTRODUCE MYSELF
I SELL NAKED TRUTHS IN UNITS OF BILLION — YOU SELL KOSHER BULLSHIT IN UNITS OF MILLION..
THIS POST IS JUST A CURTAIN RAISER , TO WET YOUR BEAK..
JEW THOMAS PIKETTY-- WARNING… DON’T FORCE ME TO TAKE YOU DOWN THE WAY I DID TO THIS PLANETs GREATEST THINKERS JEW KARL MARK AND JEW TED KACZYNSKI..
Read all 9 parts..
Read all 6 parts—
HULLO ECONOMIST THOMAS PIKETTY…
CAPT AJIT VADAKAYIL SAW YOU ON TIMESNOW TV, GIVING A LECTURE TO INDIA..
I HAVE READ YOUR BOOKS.. ALL BULLSHIT OF THE FIRST ORDER..
SO SO SO , YOUR WORK IS CONSIDERED AS A CONTINUATION OF THE WORK OF SIMON KUZNETS .. OH FUCKIN’ YEAH?
TO THE UNINITIATED.. JEW ROTHSCHILD’S AGENT JEW SIMON KUZNETS INVENTED GDP AND CONVERTED ECONOMICS INTO AN EMPIRICAL SCIENCE..
IN 1944, FOLLOWING THE BRETTON WOODS CONFERENCE THAT ESTABLISHED INTERNATIONAL FINANCIAL INSTITUTIONS SUCH AS THE WORLD BANK AND THE INTERNATIONAL MONETARY FUND, GDP BECAME THE STANDARD TOOL FOR SIZING UP A COUNTRY’S ECONOMY… ALL THIS TO SUIT GERMAN JEW ROTHSCHILD..
MODERN ECONOMIES HAVE LOST SIGHT OF THE FACT THAT THE STANDARD METRIC OF ECONOMIC GROWTH, GROSS DOMESTIC PRODUCT (GDP), MERELY MEASURES THE SIZE OF A NATION’S ECONOMY AND DOESN’T REFLECT A NATION’S WELFARE.
GDP IS NOT A MEASURE OF “WEALTH” AT ALL. IT IS A MEASURE OF INCOME. IT IS A BACKWARD-LOOKING “FLOW” MEASURE THAT TELLS YOU THE VALUE OF GOODS AND SERVICES PRODUCED IN A GIVEN PERIOD IN THE PAST.
IT TELLS YOU NOTHING ABOUT WHETHER YOU CAN PRODUCE THE SAME AMOUNT AGAIN NEXT YEAR
G6 NATIONS ARE IN REALITY BEGGAR NATIONS..
IMAGINE INDIAN AND CHINA DO NOT BELONG TO G6.
CAPT AJIT VADAKAYIL WILL NOT ALLOW THE GDP TAIL TO WAG THE GPI DOG..
READ QUESTIONS TO QUORA No 686 TO 820 IN THE POST BELOW—
https://ajitvadakayil.blogspot.com/2020/05/economist-thomas-piketty-you-shall-lay.html
WATCH THIS SPACE..
WATCH THIS SPACE..
CAPT AJIT VADAKAYIL WILL TEAR APART PRIME KOSHER ECONOMIST ASS.
Capt ajit vadakayil
..
Mann Mein Aghna Se Bhare Bolo Kahan Jaaye...
Saam Daam Dand Bhed... Saam Daam Dand Bhed
Yeh Trishna Se Bhare Bolo Kahan Jaaye
Sarkar Ke Dhwar Pe Jaake Teher Jaaye
Anyay Ke Saath Mein Kaise Jiye Jaaye
Sarkar Ke Dhwar Pe Jaake Tehar Jaaye
Anyay Ke Saath Mein Kaise Jiye Jaaye
Sarkar Ke Dhwar Pe Jaake Tehar Jaaye
Sarkar Besaar Ko Bhoole Na Bhoole Na
ENOUGH IS ENOUGH !
AN ADMIRING PAUL KRUGMAN, WRITING IN THE NEW YORK REVIEW OF BOOKS, PROCLAIMS THAT PIKETTY'S BOLD THESIS "AMOUNTS TO A UNIFIED FIELD THEORY OF INEQUALITY."
BAAP REH !
THOMAS PIKETTY IS A CHARLATAN WHO MAKES MONEY TELLING PEOPLE WHAT THEY WANT TO HEAR, MUCH LIKE PAUL KRUGMAN.
THOMAS PIKETTY’S BOOK KARL MARX’S DAS KAPITAL, ADAM SMITH'S THE WEALTH OF NATIONS AND MAYNARD KEYNES'S GENERAL THEORY IT IS A TOME NAY CODEX THAT WILL BE MORE QUOTED FROM THAN READ RIGHT THROUGH.
THEY ARE NOT WORTH READING..
AND THE AUTHORS DON’T WANT US TO READ IT TOO, THE REASON WHY MINDLESS MATH IS INSERTED EVERYWHERE
THOMAS PIKETTY POSITS THAT RISING WEALTH INEQUALITY IS INESCAPABLE DUE TO A VARIETY OF FACTORS SUCH AS GLOBALIZATION AND AUTOMATION.
THE ROTHSCHILD CONTROLLED LEFT IS OBSESSED WITH WEALTH INEQUALITY AND THIS BOOK TAKES ON THIS SUBJECT IN A WAY THAT PROMOTES THEIR AGENDA.
THE GIST OF PIKETTY'S BOOK IS SIMPLE. HE PLAYS TO THE GALLERY OF THE MAJORITY POOR.
RETURNS TO CAPITAL ARE RISING FASTER THAN ECONOMIES ARE GROWING. THE WEALTHY ARE GETTING WEALTHIER WHILE EVERYBODY ELSE IS STRUGGLING. INEQUALITY WILL WIDEN TO THE POINT WHERE IT BECOMES UNSUSTAINABLE – BOTH POLITICALLY AND ECONOMICALLY – UNLESS ACTION IS TAKEN TO REDISTRIBUTE INCOME AND WEALTH.
PIKETTY FAVOURS A GRADUATED WEALTH TAX AND 80% INCOME TAX FOR THOSE ON THE HIGHEST SALARIES.
HEY PIKETTY BABY—HOW ABOUT A BLOODY REVOLUTION THE WAY GERMAN JEW MAD MARX WANTED AND KILL 200 MILLION PEOPLE WHILE SLIMY JEWS MOAN ABOUT THEIR SIX MILLION DEAD ( IN REALITY HINDU ROMANI GYPSIES DEAD ) IN THE FOREFRONT..
JEW ROTHSCHILD USED AMARTYA SEN TO HIJACK “FAMINE “.. HE DID WELL TILL CAPT AJIT VADAKAYIL EXPOSED HIM AND CAUSED HIM TO FALL PHUTTT ON HIS FACE
PIKETTY’S 753-PAGE BOOK CAPITAL IN THE TWENTY-FIRST CENTURY, PUBLISHED IN 2013, SOLD 2.5 MILLION COPIES WORLDWIDE AND HELPED PUT INEQUALITY ON THE GLOBAL AGENDA.
BUT HIS LATEST, THE EVEN THICKER CAPITAL AND IDEOLOGY, MAY PROVE STILL MORE INFLUENTIAL. THE BOOK IS NOTHING LESS THAN A GLOBAL HISTORY OF INEQUALITY AND THE STORIES THAT SOCIETIES TELL TO JUSTIFY IT, FROM PRE-MODERN INDIA TO DONALD TRUMP’S US.
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THOMAS PIKETTY’S ARGUMENT IS THAT CAPITAL OR WEALTH GROWS AT THE RATE OF RETURN TO CAPITAL, A RATE THAT NORMALLY EXCEEDS THE ECONOMIC GROWTH RATE. ECONOMIES WILL THUS TEND TO HAVE EVER-INCREASING RATIOS OF WEALTH TO INCOME, BARRING HUGE DISTURBANCES LIKE WARS AND DEPRESSIONS.
WHAT IS R > G? THE MAIN ARGUMENT IN CAPITAL FOR WHY WEALTH INEQUALITY IS SET TO RISE COMES FROM A SIMPLE RELATION: R > G. THIS FORMULA STATES THAT THE NET RATE OF RETURN TO CAPITAL (R) EXCEEDS THE GROWTH RATE OF OUTPUT (G). THIS IS RE-INVENTING THE WHEEL AS IT IS NOT A NEW CONCEPT FOR ECONOMISTS
THOMAS PIKETTY HAS FOUND WHAT HE BELIEVES TO BE A FUNDAMENTAL LAW OF CAPITALISM: R > G.
THERE IS AN INHERENT TENDENCY, HE ARGUES, FOR THE RETURN ON CAPITAL (R) TO EXCEED THE RATE OF ECONOMIC GROWTH (G). AS A RESULT, THE RATIO OF WEALTH TO INCOMES RISES OVER TIME WITH BALEFUL CONSEQUENCES FOR THE DISTRIBUTION OF INCOME AND OPPORTUNITY.
THE SHAPE OF THINGS TO COME, PIKETTY WARNS, IS A "PATRIMONIAL CAPITALISM" IN WHICH THE INHERITED WEALTH OF AN ENTRENCHED PLUTOCRACY DOMINATES ECONOMIC, SOCIAL, AND POLITICAL LIFE THE R − G THEORY ARGUES THAT IN MODELS FEATURING MULTIPLICATIVE SHOCKS TO WEALTH ACCUMULATION, THE RIGHT TAIL OF THE WEALTH DISTRIBUTION LOOKS LIKE A PARETO DISTRIBUTION WITH PARETO COEFFICIENT DETERMINED (IN PART) BY R − G.
THE PREDICTION OF INCREASING INEQUALITY HAS ITS ORIGINS IN FALLING RATES OF POPULATION AND TECHNOLOGY GROWTH: WERE G TO FALL – AND IF R, IN RESPONSE, WERE TO FALL LESS THAN G – THEN THE CONSEQUENT INCREASE IN R − G WOULD THICKEN THE RIGHT TAIL OF THE WEALTH DISTRIBUTION.
THE BASIC SYLLOGISM IS (1) THE RATE OF RETURN EXCEEDS THE ECONOMIC GROWTH RATE; (2) SAVING GENERATED BY THIS HIGH RATE OF RETURN CAUSES CAPITAL AND WEALTH TO GROW FASTER THAN THE ECONOMY; AND (3) CAPITAL INCOME GROWS AS A SHARE OF INCOME BECAUSE THE RATE OF RETURN DOES NOT FALL SUFFICIENTLY FAST WITH CAPITAL DEEPENING TO OFFSET THIS GROWING CAPITAL-OUTPUT RATIO.
THOMAS PIKETTY WRITES THAT A HIGHER GAP BETWEEN R AND G WORKS AS AN AMPLIFIER MECHANISM FOR WEALTH INEQUALITY FOR A GIVEN VARIANCE OF OTHER SHOCKS.
TO PUT IT DIFFERENTLY: A HIGHER GAP BETWEEN R AND G ALLOWS AN ECONOMY TO SUSTAIN A LEVEL OF WEALTH INEQUALITY THAT IS HIGHER AND MORE PERSISTENT OVER TIME (THAT IS, A HIGHER GAP R − G LEADS BOTH TO HIGHER INEQUALITY AND LOWER MOBILITY).
TO PUT IT DIFFERENTLY: A HIGHER GAP BETWEEN R AND G ALLOWS AN ECONOMY TO SUSTAIN A LEVEL OF WEALTH INEQUALITY THAT IS HIGHER AND MORE PERSISTENT OVER TIME (THAT IS, A HIGHER GAP R − G LEADS BOTH TO HIGHER INEQUALITY AND LOWER MOBILITY).
THOMAS PIKETTY WRITES THAT, FROM A THEORETICAL PERSPECTIVE, THE EFFECT OF A DECLINE IN THE GROWTH RATE G ON THE GAP R − G IS AMBIGUOUS: IT COULD GO EITHER WAY, DEPENDING ON HOW A CHANGE IN G AFFECTS THE LONG-RUN RATE OF RETURN R.
GENERALLY SPEAKING, A LOWER G, DUE EITHER TO A SLOWDOWN OF POPULATION AND/OR PRODUCTIVITY GROWTH, TENDS TO LEAD TO A HIGHER STEADY-STATE CAPITAL–OUTPUT RATIO Β = K/Y, AND THEREFORE TO LOWER RATES OF RETURN TO CAPITAL R (FOR GIVEN TECHNOLOGY).
THE KEY QUESTION IS WHETHER THE FALL IN R IS SMALLER OR LARGER THAN THE FALL IN G. THERE ARE, IN MY VIEW, GOOD REASONS TO BELIEVE THAT R MIGHT FALL LESS THAN THE FALL IN G, BUT THIS ISSUE IS A COMPLEX ONE.
IT'S AN ARGUMENT AGAINST WEALTH INEQUITY. AND AS SUCH, IT IS A FOUNDATIONAL ARGUMENT AGAINST CAPITALISM. BECAUSE CAPITALISM IS THE SYSTEM THAT RESULTS IN MORE AND BETTER GOODS, PROGRESS IN SCIENCE AND ENGINEERING, DEVELOPMENT OF LAND AND BUSINESS, NEW BUSINESSES, AND WELL PAYING JOBS AND RAISES ASSOCIATED WITH INCREASING PRODUCTIVITY.
WITHOUT POOLED CAPITAL, THE SYSTEM BREAKS DOWN, AND DISTRIBUTING THE CAPITAL FOR CONSUMPTION RATHER THAN REINVESTMENT IS LIKE TAKING WOOD FROM A FIRE. EVENTUALLY, YOU HAVE JUST EMBERS.
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OR CAPITAL RETURNS TO BE CONSISTENTLY HIGHER THAN THE OVERALL GROWTH OF THE ECONOMY—OR “R > G” AS FRAMED BY PIKETTY—AN ECONOMY NEEDS TO BE ABLE TO EASILY SUBSTITUTE CAPITAL SUCH AS MACHINERY OR ROBOTS FOR LABOR.
IN THE TERMINOLOGY OF ECONOMICS THIS IS CALLED THE ELASTICITY OF SUBSTITUTION BETWEEN CAPITAL AND LABOR, WHICH NEEDS TO BE GREATER THAN 1 FOR R TO BE CONSISTENTLY HIGHER THAN G.
AS CAPITAL ACCUMULATES, THE INCREMENTAL RETURN ON AN ADDITIONAL UNIT OF CAPITAL DECLINES. THE RATE OF RETURN FROM CAPITAL PROBABLY DECLINES OVER THE LONG RUN, RATHER THAN REMAINING HIGH. WITH 1 PERCENT MORE CAPITAL AND THE SAME AMOUNT OF EVERYTHING ELSE, DOES THE RETURN TO A UNIT OF CAPITAL RELATIVE TO A UNIT OF LABOR DECLINE BY MORE OR LESS THAN 1 PERCENT?
IF, AS PIKETTY ASSUMES, IT DECLINES BY LESS THAN 1 PERCENT, THE SHARE OF INCOME GOING TO CAPITAL RISES. IF, ON THE OTHER HAND, IT DECLINES BY MORE THAN 1 PERCENT, THE SHARE OF CAPITAL FALLS.
HE DOES NOT PROVIDE A SOLUTION THAT DOES NOT ALSO KILL THE GOOSE THAT BEARS THE GOLDEN EGGS. HIS SOLUTION IS FOR GOVERNMENT TO TAX MORE, SO THAT WEALTH EQUALITY IS REBALANCED, BUT HE DOES NOT MAKE ANYONE BETTER BY THAT.
IT IS THE EQUIVALENT OF THE ARGUMENT OF THROWING US ALL INTO A POOL, AND THEN TELLING SOMEONE TO PUSH THE RICH PEOPLE DOWN.
IT DOES NOTHING TO AID THE POOR FROM DROWNING. IN EVERY SOCIETY, THOSE WHO DEPEND ON GOVERNMENT FOR AID, ARE AT BEST LOWER MIDDLE CLASS, AND MOST OF THE TIME, THEY ARE IN POVERTY. THE SOLUTION FOR POVERTY IS WORK. AND CAPITALISM SUPPLIES WORK.
PARETO PRINCIPLE WAS ALWAYS USED TO PREVENT TAXATION OF THE KOSHER RICH TO SUPPORT THE POOR..
KOSHER PARETO EFFICIENCY HAS MADE AN ASS OF THE WHOLE WORLD.
PARETO PRINCIPLE PROTECTS RICH JEWS NOT BY WHAT IT SAYS, BUT BY WHAT IT REFUSED TO SAY. THIS HAS ALWAYS BEEN JEW ROTHSCHILD’S SLIMY SIGNATURE.
THE PARETO PRINCIPLE IS USED BY ECONOMISTS TODAY IN THE SAME WAY – TO PREVENT MOVES TO RE-DISTRIBUTE WEALTH IN AN EQUITABLE WAY.
IT DOES NOT ALLOW US TO TAKE AWAY LUXURIES FROM THE KOSHER RICH TO DISTRIBUTE FOOD TO THE STARVING. THUS, IT SERVES AS AN IDEOLOGY WHICH FAVORS THE WEALTHY.
AN ECONOMY IN WHICH JEWS HOLD ALL THE WORLD WEALTH IS KOSHER PARETO EFFICIENT !
CHO CHWEEET APPAH !
THE PARETO PRINCIPLE SUGGESTS THAT IF THE INCOME OF A PARTICULAR INDIVIDUAL OR A SET OF INDIVIDUALS INCREASES WITHOUT AFFECTING THE WELL-BEING OF OTHERS, SUCH AN OUTCOME COULD BE DESIRABLE FOR SOCIETY.
JAI JAI JOHN GALT !
“PARETO EFFICIENCY” A HUMONGOUS HOAX BECAUSE IT ENCAPSULATES A NORMATIVE PRINCIPLE THAT PROPERTY RIGHTS OF THE WEALTHY ( JEWS ) TAKE PRECEDENCE OVER THE RIGHT TO BASIC NEEDS OF THE POOR.
PARETO ARGUES THAT WE CANNOT COMPARE THE UTILITY/PLEASURE DERIVED BY KOSHER ARISTOCRATS WITH REFINED TASTES, AND THE UTILITY DERIVED BY THE COARSE AND CRUDE GOYIM PEASANTS.
JOHN GALT ZINDABAD !
IT IS DISGUISED TO HAVE AN APPEARANCE OF SCIENTIFIC OBJECTIVITY WHILE THE OPPOSITE NORMATIVE PREFERENCE, WHICH MOST PEOPLE HAVE, IS SAID TO DEPEND ON SUBJECTIVE AND THUS UNRELIABLE ( SIC ) VALUE JUDGMENTS.
FOR THOMAS PIKETTY, THEIR GREATER WEALTH LEAVES (ALL ELSE BEING EQUAL) POORER PEOPLE WORSE OFF BECAUSE OF THEIR APPARENT LOSS OF POLITICAL INFLUENCE TO THE GREAT AND MIGHTY JEWISH OLIGARCHS . I AGREE..
AN OLIGARCHY IS FOREMOST A POLITICAL CONCEPT SIGNIFYING THAT REAL POWER IN A GIVEN COUNTRY (JURISDICTION) RESTS WITH A SMALL NUMBER OF SUPER-WEALTHY JEWS ( KOSHER OLIGARCHS)
.CAPT AJIT VADAKAYIL AGREES WITH THOMAS PIKETTY WHEN HE GOES AGAINST PARETO EFFICIENCY
THOMAS PIKETTY MAKES THE ARGUMENT THAT THE WEALTH OF THE RICH ( READ AS JEWS ) GIVES THEM TOO MUCH INFLUENCE OVER POLITICAL AFFAIRS IN A DEMOCRATIC SOCIETY.
INDEED I AGREE WITH PIKETTY THAT WHEN THE SUPER RICH JEWS MOVE AS A UNIFIED POLITICAL BLOC THEY HAVE DISPROPORTIONATE INFLUENCE , LIKE WHAT WE SEE IN THE INNER CLUB OF BILDERBERG
“PARETO INTERPOLATION” IS USED IN ECONOMICS WHEN ANALYSING THE DISTRIBUTION OF INCOMES IN A POPULATION, WHEN ONE MUST BASE ESTIMATES ON A RELATIVELY SMALL RANDOM SAMPLE TAKEN FROM THE POPULATION.
THOMAS BABY—WHEN I SEE STUPID ECONOMISTS INJECTING TOO MUCH OF BULLSHIT MATH INTO THEIR WORK, I KNOW HOW TO KICK THEM ON THEIR KOSHER TWATS AND BALLS
THOMAS BABY HAS BLOWN THE COLLECTIVE MINDS OF THIS PLANETs INTELLIGENTSIA BY HIS DEADLY MATH BELOW..
VADAKAYIL WONT EVEN FART ON IT..
FUNDAMENTALLY PUBLIC PROPERTY BELONGS TO THE WHOLE POPULATION OF A COUNTRY BIGGER THE PUBLIC ASSETS, THE LESS THE WEALTH INEQUALITY. WE AVE NOT PRIVATISED EVERYHING IN INDIA LIKE USA..
AND WE DON’T HAVE JEWISH INFEsTATION LIKE IN USA.. IN INDIA WE KNOW OUR SLIMY GUJARATI/MARWARI / PATHAN KHAN JEWS AND WE KEEP A HAWK EYE ON THEM
GANDHI WAS A KATHIWARI JEW
NOMINAL GDP METHOD CONTAINS SEVERAL GRAVE ERRORS. THERE IS A HUGE CALCULATION BIAS IN FAVOR OF THE COUNTRIES POSSESSING THE DOMINANT WORLD CURRENCIES, THAT IS, THE WESTERN COUNTRIES. IN REALITY ALL G6 NATIONS ARE BEGGARS
THANKS TO THE DOMINANT CURRENCIES, THEIR GDPS TEND TO BE INFLATED IN VALUE AS COMPARED WITH THE COUNTRIES WITH CURRENCIES THAT ARE NOT WIDELY USED GLOBALLY.
HIGH TAXES AND A HIGH GENERAL LEVEL OF PRICES ALSO PUSH UP THE NOMINAL GDP, AGAIN MAKING THE WESTERN ECONOMIES SEEM BIGGER THAN THEY ARE.
THE ADHERENTS TO THE NOMINAL GDP METHOD MAINTAIN THAT WHAT EXPLAINS THE PRICE DIFFERENCE IS SUPPOSEDLY QUALITY, A BETTER WESTERN PRODUCT IS MORE EXPENSIVE BECAUSE IT IS OF BETTER QUALITY, THEY SAY ( MY LEFT BALL )
NOMINAL GDP IS, AN ILLUSION BASED ON FLUCTUATING AND BIASED EXCHANGE RATES
. THE PPP METHOD COMES IN TO REMOVE THE CALCULATION BIASES AND CURRENCY FLUCTUATIONS.
THE PPP METHOD LOOKS BEYOND THE US DOLLAR, STRIVING TO CAPTURE THE ACTUAL VOLUME OF GOODS AND SERVICES PRODUCED IN A COUNTRY. IN COMPARING THE SIZE OF THE ECONOMY OF DIFFERENT COUNTRIES, THAT IS PRECISELY WHAT WE WANT TO DO, TO MEASURE THEIR REAL OUTPUT OF GOODS AND SERVICES.
THE STARTING POINT FOR THE PPP GDP IS THE NOMINAL GDP CALCULATED IN THE LOCAL CURRENCY OF ANY COUNTRY. THIS IS THEN ADJUSTED BY THE PPP COEFFICIENT, WHICH IS THE AVERAGE PRICE DIFFERENCE BETWEEN PRODUCTS IN THE GIVEN COUNTRY AND THE U.S.
THE LOCAL GDP FIGURE IS MULTIPLIED WITH THE PPP COEFFICIENT AND THIS WAY WE REACH THE MORE ACCURATE COMPARISON OF THE ACTUAL VOLUMES OF THE ECONOMIES. WE ARE STILL USING THE USD AS THE CURRENCY FOR COMPARING ALL THE WORLD’S ECONOMIES, BUT HAVE ADJUSTED THEM TO ELIMINATE THE MARKET EXCHANGE RATE BIASES.
INDIA IS NO 3 BY GDP/ PPP
THE PPP METHOD ASSESSES THE ACTUAL ECONOMIC OUTPUT OF GOODS AND SERVICES DISREGARDING THE DISTORTIONS OF CURRENCY EXCHANGE RATES AND ALL THE STRUCTURAL DIFFERENCES ON THE MARKETS OF THE VARIOUS COUNTRIES, CONTRARY TO THE WRONGHEADED NOMINAL GDP METHOD.
MUCH MODERN WRITING ABOUT ECONOMICS IS CLOAKED IN IMPENETRABLE JARGON, AND EXHAUSTIVELY DATA DRIVEN TOO MAKE AN ASS OF THE COMMON MAN . I KNOW WHAT I MEAN, AS I HAVE BEEN THROUGH DAS KAPITAL
THOMAS PIKETTY FAILS TO IDENTIFY THE PERVASIVE ROOT CAUSE OF THE PROCESS WHICH IS THE RISE OF INTELLIGENT AUTOMATED MACHINES THAT PRODUCE AN EVER INCREASING PERCENTAGE OF ECONOMIC GOODS AND SERVICES. THIS MAKES THEIR OWNERS / SHAREHOLDERS INCREASINGLY WEALTHY.
WORSE YET IT CREATES A SURPLUS OF HUMAN LABOR WHICH DRIVES DOWN THE WAGES, VALUE AND WEALTH OF INDIVIDUAL WORKERS.
IN INDIA THERE IS NO RISE IN INEQUALITY SINCE THE LAST DECADE. YOU GET WHAT YOU ARE WORTH
GETTING CEO PAY RIGHT IS SURELY A CHALLENGE, BUT DOES ANYBODY ON EARTH THINK IT IS THE DEFINING CHALLENGE OF OUR TIME?
IF THERE WERE A WAY TO TAKE ALL OF THE WORLD’S WEALTH AND REDISTRIBUTE IT EQUALLY AMONG ALL OF THE WORLD’S PEOPLE, WITHIN TEN YEARS WE WOULD BE BACK TO THE SAME WEALTH INEQUALITY THAT WE HAVE NOW, BECAUSE SOME PEOPLE ARE GOOD AT MANAGING MONEY, AND MOST PEOPLE AREN’T.
THOMAS PIKETTY PLUCKED STATISTICS OUT OF THIN AIR— NOW, WHO IS GONNA VERIFY ALL THIS?
AS IF TO FURTHER CONVINCE US THAT A SCIENTIFIC METHOD HAS BEEN EMPLOYED, THE PIKETTY SCHOLARS ANNOUNCE THAT “ALL CORRESPONDING COMPUTER CODES AND ROBUSTNESS CHECKS ARE PROVIDED IN” AN APPENDIX TO THEIR OPUS. BRAAAAYYYYYYY
THAT IS NOT TRUE, NOTHING OF THE SORT WERE MADE AVAILABLE. WHAT IS TRUE, IS THAT THEIR WORK REFERS TO APPENDICES AND THAT THEY CONTAIN A WELTER OF DATA, BUT THERE IS ABSOLUTELY NO TRANSPARENT THREAD – OR ANY MATHEMATICAL METHOD – THAT WOULD EVIDENCE A TRANSFORMATION OF ONE SET OF DATA TO ANOTHER OR THE COMBINATION OF DATA SETS.
WHAT WE FIND IS THAT THE SCHOLARS HAVE ALLOWED THEMSELVES GENEROUS FREEDOM TO MAKE VARIOUS ASSUMPTIONS AND TO SKETCH VARIOUS SCENARIOS BASED ON THAT, AND NOTHING ELSE.
THOMAS PIKETTY’S BOOKS PERVASIVE ERRORS OF HISTORICAL FACT, OPAQUE METHODOLOGICAL CHOICES, AND THE CHERRY-PICKING OF SOURCES TO CONSTRUCT FAVORABLE PATTERNS FROM AMBIGUOUS DATA.
THEIR RESEARCH DOES NOT REPRESENT FALSIFIABLE SCIENCE, AS THERE IS NO WAY THAT ANOTHER SCIENTIST COULD RECREATE THE EXPERIMENT (IN THIS CASE CALCULATIONS) BY WHICH TO DEMONSTRATE THE SAME CONCLUSIONS BY WAY OF APPLYING THE SAME DATA SOURCES.
INSTEAD IT IS EVIDENT THAT THE PIKETTY SCHOLARS HAVE TAKEN THE LIBERTY TO MERELY LOOSELY REFER TO VARIOUS ELEMENTS OF THEIR DISPARATE DATA WITH THE AIM OF JUSTIFYING THEIR PRECONCEIVED OPINIONS. THEIRS IS A NARRATED STORY AND NOT SCIENCE.
PIKETTY SCHOLARS ARE EXTREMELY CAVALIER WITH THEIR SOURCE DATA GRANTING THEMSELVES VERY MUCH CREATIVE FREEDOM IN THE WAY THEY GO ABOUT USING THE ALREADY FLIMSY DATA SOURCES.
– CLEARING FROM THE ACADEMIC SMOKE AND MIRRORS AND NAMING OF VARIOUS FANCY SOUNDING STATISTICAL METHODS SUPPOSEDLY EMPLOYED – THERE IS NOTHING THAT COULD EVEN REMOTELY RESEMBLE A SCIENTIFIC METHOD.
THEY “ASSUME” AND “CHOOSE” “SO AS TO DELIVER” WHAT THEY HAD PRECONCEIVED. AND IF THE “RAW DATA” DOES NOT BEND FOR THE PURPOSE, THEN JUST DO A BIT MORE OF THE ASSUMING, EVENTUALLY YOU WOULD GET THERE. THAT DONE, WAVE YOUR ACADEMIC WAND AND PRONOUNCE THAT “LOG-LINEARLY-ESTIMATED PARETO COEFFICIENTS” HAVE BEEN APPLIED. .
PIKETTY SCHOLARS MAKE REFERENCES TO A SERIES OF FANCY SOUNDING STATISTICAL METHODS, AND SOME BULLSHIT MATH WHICH ARE DESIGNED TO IMPRESS THE READER THAT SOMETHING SCIENTIFIC TOOK PLACE,
BUT IN REALITY, THE SCHOLARS MERELY UNDER THE GUISE OF THE SUPPOSED SOURCES AND THOSE METHODS JUST DRAW THE FIGURES TO THEIR LIKING.
PIKETTY HAS INDEED WORN OUT THE PARETO SPATULA BY USING IT TO CREATE WHIRLPOOLS. -- A POTPOURRI OF SOURCES, BUT NO FALSIFIABLE SCIENTIFIC METHOD TO COMBINE THEM
LIKE WIZARDS WAVING MAGIC WANDS AND PRONOUNCING INCANTATIONS, THE PIKETTY SCHOLARS ATTEMPT TO CONVINCE US THAT THEIR INVALID DATA SOURCES BY PARETO OR ANY OTHER STATISTICAL FORMULA TURN INTO SCIENTIFIC TRUTHS.
THOMAS PIKETTY CONTRIVES TO GIVE A SCIENTIFIC GLOSS TO HIS MISCONCEIVED CONCLUSIONS IN THE ATTEMPT TO VALIDATE THEIR PRECONCEIVED IDEAS.
IN ECONOMICS GET TO THE POINT EL PRONTO ..
WHY WRITE A 3000 PAGE BULLSHIT THEORY LIKE DAS KAPITAL WHICH KILLED 200 MILLON PEOPLE? DAS KAPITAL COULD HAVE BEEN WRITTEN IN 50 PAGES.
AND IN ANY CASE WHAT APPLIES TO AMERICA DOES NOT APPLY TO INDIA..
JEWISH DEEP STATE DARLING MODIs DREAM IS TO PRIVATIZE EVERYTHING AND LET WHITE JEWS RUN INDIAs ECONOMY AND INSURANCE..
MODI EVEN WANTS ISRAEL TO INTERLINK ALL INDIAs RIVER, BECAUSE ISRAEL HAS THOUSANDS OF MIGHTY RIVERS, RIGHT?
IT WILL REMAIN MODIs WET DREAM !
Public Sector Enterprises (PSEs), have been an integral part of the Indian economy since Indian independence in 1947.
Nehru ensured we had only had a choice between Premier Padmini Fiat and Ambassador cars.. Today we know the importance of Nehru’s vision of “self reliance”..
Modi if given a free hand will sell India to Israel and American Jews and then flee India to stay in a “safe house in Israel”..
After all Modi wore a Mossad sponsored Sikh turban in 1976.
The objective of setting these up was to ensure self-reliance in industries of national strategic importance, as also promote production within India, especially in industries where the private sector was hesitant or unable to enter due to prohibitively high cost of investment and risk involved, such as coal mining and railways.
- why is Modi selling all assets of mother India including ISRO to private enterprises?
- MARK MY WORDS..VERY SOON ISRAEL WILL OWN ISRO..
capt ajit vadakayil
.. - PUT ABOVE COMMENT IN WEBSITES OF--
ISRO
ISRO CHIEF
DRDO
DRDO CHIEF
PMO
PM MODI
EXTERNAL AFFAIRS MINISTER/ MINISTRY
AMIT SHAH
HOME MINISTRY CENTRE/ STATES
CJI BOBDE
ATTORNEY GENERAL
LAW MINISTER PRASAD / MINISTRY CENTRE AND STATES
ALL CHIEF JUSTICES HIGH COURTS
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IB
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ED
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PRESIDENT OF INDIA
VP OF INDIA
SPEAKER LOK SABHA
SPEAKER RAJYA SABHA
ALL INDIAN THINK TANKS
NITI AYOG
AMITABH KANT
https://timesofindia.indiatimes.com/india/anybody-can-start-business-in-any-sector-compete-with-pses-in-strategic-ones-fm/articleshow/75796081.cms
DURING THE COVID PANDEMIC --
GIVE FREE FOOD AND FREE MEDICARE TO THE POOR.
DONT GIVE MONEY FOR POOR INDIANS TO BUILD UP A BANK BALANCE
INDIA IS NOT HAND TO MOUTH LIKE AMERICANS OR JAPANESE OR BRITS OR WHATEVER..
POOR PEOPLE MOAN " WE DONT HAVE MONEY"'.. THEY ALL HAVE A STASH, IT IS OUR MINDSET TO SQUIRREL AWAY SOME SAVINGS
DURING THE COVID PANDEMIC --
GIVE FREE FOOD AND FREE MEDICARE TO THE POOR.
DONT GIVE MONEY FOR POOR INDIANS TO BUILD UP A BANK BALANCE
INDIA IS NOT HAND TO MOUTH LIKE AMERICANS OR JAPANESE OR BRITS OR WHATEVER..
POOR PEOPLE MOAN " WE DONT HAVE MONEY"'.. THEY ALL HAVE A STASH, IT IS OUR MINDSET TO SQUIRREL AWAY SOME SAVINGS
THERE IS NO INEUQALITY IN INDIA AS THOMAS PIKETTY CONTENDS.
WE HAVE A VARNA SYSTEM, WHICH IS NOT INEQUALITY..
EVERY BODY ON A SHIP CANNOT BE CAPTAIN, GET CAPTAINs OWER, HIS WAGES AND HAVE AN APARTMENT WITH FACILITY TO CARRY FAMILY..
SOME HAVE TO COOK.
SOME HAVE TO SERVE OTHERS .
SOME HAVE TO CLEAN THE TOILET.
MANU WAS A NOBLE MAHARISHI. . IF HE WAS A BIGOT HE WOULD NOT HAVE GOT THE VADAKAYIL PRIZE
TODAY—
HO CHI MINH GETS THE VADAKAYIL PRIZE. HE WAS NOT A COMMUNIST.. HE WAS A FREEDOM FIGHTER..
GARBAGE BUCKET LIST:
1) BERTRAND RUSSEL
2 NOAM CHOMSKY
3 SIGMUND FREUD
4) GEORG WILHELM HEGEL
5) AMARTYA SEN
6) FREIDRICH WILHELM NIETZSCHE
7) IMMANUEL KANT
8 ) BARUCH SPINOZA
9) ALBERT EINSTEIN
10) ISAAC NEWTON
11) GUGLEILMO MARCONI
12) CHARLES DARWIN
13) KARL MARX
14) MAX WEBER
15) THOMAS ALVA EDISON
16) FIBONACCI
17) EDWARD BERNAYS
18) JOHN DEWEY
19) GEORGE IVANOVICH GURDJEIFF
20 PETER D OUPENSKY
21) OPRAH WINFREY
22) RICHARD BANDLER AND JOHN GRINDER
23) CHRISTIANE AMANPOUR
24) STEPHEN HAWKING
25) SIDNEY HOOK
26) ALFRED KINSEY
27) BARACK OBAMA
28) AYN RAND
29) WILHELM WUNDT
30) RENE DESCARTES.
31) EMPRESS HELENA
32) RAYMOND IV
33) SAINT MOTHER TERESA
34) LENIN
35) ENGELS
38) ADAM SMITH
########################
BBB ) HERE ARE PEOPLE WHO MADE A DENT IN THE UNIVERSE— THEY GET THE "VADAKAYIL PRIZE". THIS IS NOT A VESTED “NOBEL PRIZE “
1) NIKOLA TESLA
2) DIMITRI MENDELEYEEV
3) IE IRODOV
4) ARYABHATTA ( 2700 BC)
5) SRINIVASAN RAMANUJAN
6) CHANAKYA ( 372 BC )
7) ADI SHANKARACHARYA ( 2000 BC )
8) APOLLONIUS OF TYANA ( KERALA SAGE WHOSE LEGACY WAS USURPED BY COOKED UP JESUS IN 325 AD )
9) "JOHN DOE"
10) JULIAN ASSANGE
11) SWAMI CHINMAYANANDA
12) GARY STEPHEN WEBB
13) GEORGE ORWELL.
13) CESAR MILLAN
14) HENRY FORD.
15) PANINI ( 5500 BC )
16) BHARTRHARI ( 7000 BC )
17) PATANJALI ( 5000 BC )
18) MANU (8300 BC)
19) YASKA ( 5800 BC )
20) JOHN CARMAC
21) QUEEN DIDO ( 1600 BC )
22) KANADA MUNI ( 6500 BC )
23) VARAHAMIHIRA ( 2660 BC )
24) VARARUCHI ( 2830 BC )
25) VIROCHANA ( 10, 650 BC )
26) MAHABALI ( 10,600 BC )
27) KALANAMI ( 10500 BC )
28) IMHOTEP / AYYAPPA ( 3900 BC )
29) PROF HYPATIA
30) SWARBANU
31) PUTIN
32) EDWARD SNOWDEN
33) LI WENLIANG
34) HO CHI MINH
CCC) DOWN THE SHIT HOLE----
1) SUHEL SETH
2) PRITISH NANDI
3) DILIP CHERIAN
4) PRANNOY JAMES ROY
5) AROON PURIE
6) VINEET JAIN
7) SHEKHAR GUPTA
8) SAGARIKA GHOSE AND HUSBAND RAJDEEP SARDESAI
9) SHOBHAA DE
10) SIDHARTH VARADARAJAN AND WIFE NANDINI SUNDAR
11) KAMALHAASAN
12) AUDREY TRUSCHKE
13) NOSTRODAMUS
14) MANI SHANKAR AIYAR
15) VERGHESE KURIEN
16) MS SWAMINATHAN
17) DEVDUTT PATTANAIK
18) SANJAY R HEGDE
19) MARK ZUCKERBERG
20) JACK DORSEY
21) THOMAS L FRIEDMAN
22) ROMILA THAPAR
23) IRFAN HABIB
24) RAMCHANDRA GUHA
25) SHELDON POLLOCK
26) WENDY DONIGER
27) BARKHA DUTT
28) ADMIRAL LN RAMDAS , WIFE LALITA AND DAUGHTER KAVITA.
29) SWARA BHASKAR
30) KARAN THAPAR
31) ADAM D ANGELO
32) SAINT CRYIL ARCHBISHOP OF ALEXANDRIA
33) N RAM
34) GRETA THUNBERG
35) MK GANDHI
36) SONIA GANDHI
37) TED KACZYNSKI
38) ZOYA HASAN
39) ASHOK SWAIN
40) KAVITA KRISHNAN
41) TEESTA SETALVAD
42) PRASHANT BHUSHAN
Capt ajit vadakayil
..
IF THERE IS RISING WEALTH INEQUALITY IN INDIA WHERE THE WATAN IS GAINING, WE DON’T CARE..
WE DON’T RUN OUR ECONOMY OR NATION ON SENTIMENTS OR TO KEEP JEALOUS WHTE MEN HAPPY..
WE DON’T NEED THOMAS PIKETTYs ADVISE OR GOOD WILL. HE CAN FUCK HIMSELF FOR ALL WE CARE.
TILL JEW ROTHSCHILD CONVERTED INDIA FROM THE RICHEST NATION OF THE PLANET TO THE POOREST ( 1947 ) IN JUST 250 YEARS , WE DID OUR OWN ECONOMICS.. AND IT WAS SUCCESSFUL.
WHEN THE WHITE MAN WAS DOING GRUNT GRUNT FOR LANGUAGE , THE CALICUT KING WAS THE RICHEST MAN ON THE PLANET, WHO CIVILISED THIS PLANET..
THOMAS PIKETTY WITH LUCAS CHANCEL, WROTE A PAPER ENTITLED “INDIAN INCOME INEQUALITY, 1922-2014: FROM BRITISH RAJ TO BILLIONAIRE RAJ”.
THIS STUDY IS 100% BULLSHIT.
WE DON’T CARE FOR ISI ( INDIAN STATISTICAL INSTITUTE ) WHICH WAS CREATED TO SHOWCASE INDIA AS A BEGGAR NATION.. THE SAMPLING METHODS WERE ALL DOCTORED AND TILTED
LIKE WIZARDS WAVING MAGIC WANDS AND PRONOUNCING INCANTATIONS, THE PIKETTY SCHOLARS ATTEMPT TO CONVINCE US THAT THEIR INVALID DATA SOURCES BY PARETO OR ANY OTHER STATISTICAL FORMULA TURN INTO SCIENTIFIC TRUTHS.
PIKETTY SCHOLARS REFUSE TO UNDERSTAND THE CRUCIAL DIFFERENCE BETWEEN ‘GROSS REVENUE’ AND ‘ASSESSABLE INCOME’ (I.E. ‘TAXABLE INCOME’). EVEN AFTER (INCOHERENTLY) DISCUSSING THE DIFFERENCE BETWEEN THESE CONCEPTS, THEY DECLARE ‘GROSS REVENUE’ AND ‘ASSESSABLE INCOME’ TO BE THE SAME, AFTER WHICH THEY PROCEED TO DRAW THE MOST FANTASTIC CONCLUSIONS FROM THE DATA, WHICH A DILIGENT AND ABLE SCHOLAR WOULD HAVE DISCARDED ALREADY AFTER A BRIEF PERUSAL.
PIKETTY HAS MADE REFERENCES TO A SERIES OF FANCY SOUNDING STATISTICAL METHODS, WHICH ARE DESIGNED TO IMPRESS THE READER THAT SOMETHING SCIENTIFIC TOOK PLACE, BUT IN REALITY, THE SCHOLARS MERELY UNDER THE GUISE OF THE SUPPOSED SOURCES AND THOSE METHODS JUST DRAW THE FIGURES TO THEIR LIKING.
“IN ORDER TO CONSTRUCT THESE ESTIMATES, WE USE FORBES BILLIONAIRE DATA AND APPLY GENERALIZED PARETO INTERPOLATION TECHNIQUES,” THEY SUCCINCTLY SUMMARIZE THEIR METHODOLOGY “FORBES BILLIONAIRE DATA” IS AN INVALID SOURCE FOR SUCH STATISTICAL RESEARCH. AND BELIEVE ME, IT DOES NOT GET ANY BETTER BY PARETO
IN GENERAL, THE PIKETTY REPORTS NEVER DEMONSTRATE TO WHAT EXTENT THE SCHOLARS HAVE RELIED ON ONE OR ANOTHER SET OF SOURCE DATA, RATHER THEIR METHOD IS LIKE A RECIPE FOR A POTPOURRI, THROW IN GENEROUS AMOUNTS OF FORBES BILLIONAIRE DATA, A BIT OF SURVEY DATA, SOME HOMEMADE TAX TABULATIONS, AND STIR EVERYTHING WITH A PARETO SPATULA.
THE SCHOLARS MERELY TELL THAT THEY HAVE RELIED ON THOSE SOURCES TO MAKE THE BLEND, BUT THE SHARE OF EMPHASIS ON ONE OR THE OTHER SETS OF SOURCE DATA IS NOT GIVEN AND THE CHOICES ARE NOT DISCUSSED.
THERE ARE ALSO NO SCIENTIFICALLY FALSIFIABLE COMPUTATIONS, WHICH WOULD SHOW HOW THE VARIOUS DATA SOURCES WOULD SUPPOSEDLY HAVE BEEN MATHEMATICALLY COMBINED TO YIELD THE RESULTS THAT THESE SCHOLARS CLAIM TO BE THEIR SCIENCE.
THIS IS IN ITSELF RENDERS THE PIKETTY REPORTS INVALID AS ACADEMIC SCIENCE AND RELEGATES THEM MERELY TO THE LEVEL OF WET DREAMS.
THE SCHOLARS MERELY TELL THAT THEY HAVE RELIED ON THOSE SOURCES TO MAKE THE BLEND, BUT THE SHARE OF EMPHASIS ON ONE OR THE OTHER SETS OF SOURCE DATA IS NOT GIVEN AND THE CHOICES ARE NOT DISCUSSED.
THERE ARE ALSO NO SCIENTIFICALLY FALSIFIABLE COMPUTATIONS, WHICH WOULD SHOW HOW THE VARIOUS DATA SOURCES WOULD SUPPOSEDLY HAVE BEEN MATHEMATICALLY COMBINED TO YIELD THE RESULTS THAT THESE SCHOLARS CLAIM TO BE THEIR SCIENCE.
THIS IS IN ITSELF RENDERS THE PIKETTY REPORTS INVALID AS ACADEMIC SCIENCE AND RELEGATES THEM MERELY TO THE LEVEL OF WET DREAMS.
.
USING A COMPLEX MIX OF DATA ON INCOME TAX, NATIONAL ACCOUNTS AND HOUSEHOLD SURVEYS, PIKETTY AND CHANCEL CONCLUDE THAT THE TOP 1 PER CENT OF EARNERS IN 2014 EARNED 22 PER CENT OF INDIAN NATIONAL INCOME, THE HIGHEST SHARE SINCE 1922, WHEN INCOME TAX WAS INTRODUCED. THE SHARE OF THE TOP 1 PER CENT FELL SHARPLY BETWEEN 1951 AND 1980, AND THEN ROSE AGAIN IN THE PERIOD 1980-2014, PARTICULARLY AFTER THE BEGINNING OF ECONOMIC LIBERALISATION IN 1991.
THERE ARE TWO PROBLEMS WITH THEIR ARGUMENT. ONE IS STATISTICAL—GARBAGE IN , GARBAGE OUT, APPLIES TO SUCH MODELLING.
THOMAS PIKETTY DOES NOT HAVE A FUCKIN’ CLUE WHEN IT COMING TO UNDERSTANDING TRUE AND AUTHENTIC DATA SAMPLING.. SHIPS AS SUNK AT SEA BECAUSE THE SAMPLING WAS POOR.
capt. ajit vadakayil march 18, 2019 at 10:05 pm
WHILE SURFING TV CHANNELS I SAW FAYE SORPOTEL DSOUZA TALK TO PC MOHANAN , THE STATISTICIAN WHO HAD RESIGNED IN A HUFF, BECAUSE MODI GOVT IGNORED HIS ULTERIOR MOTIVED DATA....
PC MOHANAN HAS DECLARED THAT INDIAS JOB GROWTH IS AT A 45 YEAR LOW, AND THIS MADE THE ITALIANS VERY HAPPY.. THIS IS ABSOLUTE NONSENSE.. MODI HAS CREATED MORE JOBS IN HIS TENURE THAN UPA.
IT MADE MY DAY..
I HAD A NICE BELLY LAUGH..
A POT HOLE JOURNALIST TALKING TO A STATISTICIAN ABOUT GDP -- IS MODI FUDGING GDP AND GROWTH?
TEE HEEEEEEEE..
THIS IS LIKE THE SHIPS COOK DEBATING WITH THE STEWARD IN THE GALLEY , IF CAPTAIN IS NAVIGATING THE SHIP SAFELY ..
NONE OF THE 108 ECONOMISTS IN THE LINK BELOW KNOW REAL ECONOMICS.. THEY ARE AWARD WAAPSI GANG IN A NEW AVATAR...
THEY WILL BE VERY HAPPY LIKE PAKISTAN, IF INDIAS ECONOMY CRASHES.. WHO CARES FOR THESE COMMIES !
MANMOHAN SINGH, MONTEK SINGH AHLUWALIA, RAGHURAN RAJAN , AMARTYA SEN ETC DO NOT KNOW REAL ECONOMICS.. THEY ONLY KNOW ROTHSCHILDS VESTED ECONOMICS..
THIS GRUESOME FOURSOME HAVE NEVER UTTERED A WORD ON USAS 21 TRILLION USD DEBT OR CHINAS DEBT OF 385% OF ITS GDP.. THE HAVE NEVER MENTIONED HOW BEGGAR G7 NATIONS ARE RATED HIGH BY ROTHSCHILDS RATING AGENCIES..
THEY HAVE NEVER PROTECTED THE WATAN, WHOM ROTHCHILDSS RATING AGENCIES WHO PEG INDIA AT ONE NOTCH ABOVE JUNK--WHEN INDIA IS THE ONLY ROARING ECONOMY ON THIS PLANET..
INDIA MUST PURGE SOCIAL SCIENCES DEPT OF ELITE INSTITUTIONS LIKE JNU , TISS ETC OFF FOREIGN PAYROLL DESH DROHI COMMIES... WE KNOW WHO THEY ARE..
WE ALL KNOW WHY THE ITALIAN WAITRESS HAD JEAN DREZE IN THE NAC.. WE ALL KNOW WHO JNU WOMAN JAYATI GHOSH IS.. WE DONT NEED DESH DROHIS TO SAVE INDIA..
CAPT AJIT VADAKAYIL DECLARES-- MDIS / JAITLEYS BIGGEST FEATHERS IN THEIR CAPS ARE GST/ DEMONETIZATION..
capt ajit vadakayil
..
THE OTHER IS THEIR FAILURE TO DISTINGUISH BETWEEN DIFFERENT KINDS OF INEQUALITY IN INDIA.. THE SECOND-HIGHEST RURAL INEQUALITY (0.29) WAS FOUND IN KERALA.
BRAAAAAYYYYYYY..
WHERE IN MY BANANA..
SCRATCH SCRATCH…
SCRATCH SCRATCH…
KERALA IS THE BEST ON THE PLANET, NOT JUST INDIA WHEN IT COMES TO SOCIAL ENGINEERING AND SOCIAL INDICATORS..
PIKETTY AND CHANCEL’S USE OF TAX DATA TO JUDGE INCOME IS PROBLEMATIC. THE TAX AUTHORITIES COUNT CAPITAL GAINS AS INCOME. BUT CAPITAL GAINS DO NOT CONSTITUTE VALUE ADDITION, AND SO ARE EXCLUDED FROM GROSS DOMESTIC PRODUCT. SO, THEIR INCOME/GDP RATIO SHOULD NOT INCLUDE CAPITAL GAINS.
PIKETTY SCHOLARS REFUSE TO UNDERSTAND THE CRUCIAL DIFFERENCE BETWEEN ‘GROSS REVENUE’ AND ‘ASSESSABLE INCOME’ (I.E. ‘TAXABLE INCOME’).
EVEN AFTER (INCOHERENTLY) DISCUSSING THE DIFFERENCE BETWEEN THESE CONCEPTS, THEY DECLARE ‘GROSS REVENUE’ AND ‘ASSESSABLE INCOME’ TO BE THE SAME, AFTER WHICH THEY PROCEED TO DRAW THE MOST FANTASTIC CONCLUSIONS FROM THE DATA, WHICH A DILIGENT AND ABLE SCHOLAR WOULD HAVE DISCARDED ALREADY AFTER A CURSORY GLANCE.
EVEN AFTER (INCOHERENTLY) DISCUSSING THE DIFFERENCE BETWEEN THESE CONCEPTS, THEY DECLARE ‘GROSS REVENUE’ AND ‘ASSESSABLE INCOME’ TO BE THE SAME, AFTER WHICH THEY PROCEED TO DRAW THE MOST FANTASTIC CONCLUSIONS FROM THE DATA, WHICH A DILIGENT AND ABLE SCHOLAR WOULD HAVE DISCARDED ALREADY AFTER A CURSORY GLANCE.
THIS “R > G” THINGY IS ABOUT WEALTH INEQUALITY AND NOT SO MUCH ABOUT LABOR INCOME INEQUALITY
DATA ON WEALTH REALLY IS SCARCE IN INDIA..
VERY LITTLE OF THE INEQUALITY ANALYSIS PRESENTED BY PIKETTY AND OTHERS INCLUDES DATA ON THE WEALTH OR INCOMES OF DEVELOPING COUNTRIES (IT IS ALMOST ENTIRELY LIMITED TO MEASURING THE DISPERSION OF WEALTH AND INCOMES IN EUROPE AND THE US). INCLUDING SUCH DEVELOPING WORLD DATA IN A GLOBAL ANALYSIS TELLS A DIFFERENT STORY (THAT INCOME INEQUALITY IS FALLING GLOBALLY).
PIKETTY’S ANALYSIS ERRONEOUSLY PREDICTS THE RISE IN CAPITAL’S SHARE OF INCOME AND THE RISING GAP BETWEEN R – G BY NEGLECTING THE REALITY OF DIMINISHING RETURNS OF CAPITAL ACCUMULATION.
PIKETTY’S PREDICTION OF THE RETURN ON CAPITAL TO EXCEED THE GDP GROWTH RATE IN THE LONG-RUN, THIS ASSUMES THE ELASTICITY BETWEEN CAPITAL AND LABOR MUST BE GREATER THAN ONE. HOWEVER, STANDARD EMPIRICAL ESTIMATES OF THE ELASTICITY BETWEEN CAPITAL AND LABOR ARE WELL BELOW 1, THWARTING THE ARGUMENT THAT OWNERS OF CAPITAL WILL OWN AN INCREASINGLY DISPROPORTIONATE AMOUNT OF WEALTH
PIKETTY’S R > G ANALYSIS DOESN’T ACCOUNT FOR POWERFUL FORCES THAT COUNTERACT THE ACCUMULATION OF WEALTH FROM ONE GENERATION TO THE NEXT. OLD MONEY IS LONG GONE..( LEAVE ASIDE ROTHSCHILD )..
FOR THOSE WHO HAVE ACTUALLY READ CAPITAL IN THE TWENTY-FIRST CENTURY, THEY KNOW HOW CENTRAL THE R-G > 0 HYPOTHESIS IS TO THE THEORY OF CAPITAL ACCUMULATION THAT INSPIRES THE NAMESAKE OF THE BOOK. IT IS THE BACKBONE BEHIND THE TAX ON CAPITAL (THE WEALTH TAX) PROPOSED IN PART IV OF CAPITAL.
BELOW: CAPT AJIT VADAKAYIL HAS TORN ASUNDER THE KOSHER ASSES OF THIS PLANETs GREATEST THINKERS MAD MARX AND TED KACZYNSKI..
JUST WHO IS THIS BRAIN DEAD PIECE OF SHIT ?
IF A MAN IS SUSPECTED OF MURDER, ARSON AND SPEEDING, ANY PROSECUTOR WHO FOCUSES ONLY ON THE LAST CHARGE RISKS RIDICULE.
IN HIS BOOK, “CAPITAL IN THE TWENTY-FIRST CENTURY”, THOMAS PIKETTY CONCLUDES THAT ELITES ARE BECOMING WEALTHIER AND MORE POWERFUL AT THE EXPENSE OF THE REST OF THE POPULATION.
HOWEVER, WEALTH INFORMATION ALONE, BASED ON THE MARKET VALUE OF FINANCIAL HOLDINGS AND OTHER REAL ASSETS, CAN’T VALIDATE THAT CLAIM. INCOMES AND, IMPORTANTLY, SOCIAL FACTORS ALSO NEED TO BE CONSIDERED. AND THOMAS BABY HAS NO IDEA HOW INDIAN SYSTEM WORKS..
WE INDIANS ARE MORE INTERESTED IN HAPPINESS AND HARMONY AT HOME THAN MATERIAL WEALTH AS IN THE WEST.. HE HAS NO IDEA OF THE HINDU MINDSET..
INDIA IS NOT DECADENT FRANCE. A HINDU WOULD WANT CLEAN WATER TO DRINK WHEN HE IS THIRSTY , NOT SOME BULLSHIT WINE.
THE CLAIM THAT WEALTH BECOMES MORE CONCENTRATED WHEN A SOCIETY’S RATE OF RETURN ON CAPITAL (R) IS GREATER THAN ITS GDP GROWTH RATE (G) IS SIMPLY FALSE . THE TWO HAVE NO DIRECT RELATIONSHIP. THIS IS BULLSHIT OF THE FIRST ORDER.
MACROECONOMICS RELIES EXCESSIVELY ON CONCEPTS SUCH AS GDP AND AGGREGATE DEMAND, WHICH ARE MUCH EASIER TO WORK WITH IN THEORY THAN IN ACTUAL PRACTICE.
PIKETTY GOES FOR UNSUBSTANTIATED PREDICTIONS BASED ON SPURIOUS LAWS, IN PARTICULAR THE SUPPOSED NATURAL TENDENCY IN CAPITALISM TOWARDS AN INCREASING CONCENTRATION OF WEALTH.
TO JUSTIFY THAT CLAIM, HE MUST TREAT ALMOST HALF THE PERIOD OF INDUSTRIAL CAPITALISM, INCLUDING THE DEVELOPMENT OF THE WELFARE STATE, AS A HISTORICAL EXCEPTION.
AS A THINKER ABOUT SOCIETY, HE IS CRIPPLED BY RELIANCE ON IRRELEVANT STATISTICS AND ABSTRACT BRAIN DEAD THEORIES.
THE NICETY OF HAVING LOTS OF INCOME IS THAT A SIGNIFICANT AMOUNT OF THAT INCOME CAN BE TURNED TO WEALTH, THAT IS MINIMALLY TAXED.
THE AMERICAN STOCK MARKET HAS RETURNED MORE THAN 10% YEARLY FOR DECADES, AND A STOCK PORTFOLIO WITH MINIMAL TURNOVER CAN GO LARGELY UNTAXED FOR DECADES..
PIKETTY WONT EVEN KNOW THE HISTORY OF HIS OWN NATION FRANCE, HOW JEW ROTHSCHILD CONTROLS IT.. HE WONT KNOW THAT FRENCH ROTHSCHILD GREW OPIUM IN VIETNAM FOR A CENTURY..
THE BULLSHIT “COMMUNIST DOMINO THEORY” PROPOUNDED BY EISENHOWER, KENNEDY AND JOHNSON WAS , BECAUSE ROTHSCHILD DID NOT WANT TO LOSE HIS OPIUM FIELDS IN LAOS, CAMBODIA AND THAILAND- AFTER LOSING VIETNAM..
http://ajitvadakayil.blogspot.com/2011/11/general-eisenhowers-secret-holocaust-of.html
JEW EISENHOWER MUST KNOW THAT "IF" HIS AUNTY HAD BALLS, SHE WOULD BE HIS UNCLE..
http://ajitvadakayil.blogspot.com/2011/11/general-eisenhowers-secret-holocaust-of.html
JEW EISENHOWER MUST KNOW THAT "IF" HIS AUNTY HAD BALLS, SHE WOULD BE HIS UNCLE..
I WILL BE WRITING A 30 PART POST ON THE VIETNAM WAR SOON
- SOMEBODY CALLED ME UP AD CRIED
NOWHERE IS IT WRITTEN THAT FRENCH JEW ROTHSCHILD GREW OPIUM IN VIETNAM FOR A 100 YEARS ..
OK--
DID ANYBODY EVER WRITE THAT JEW ROTHSCHILD ETHNICALLY CLEANSED ARUNACHAL PRADESH OFF INDIA DNA PEOPLE AND REPLACED THEM WITH SPLICED/ GRAFTED DNA OF HUNNAN CHINESE/ MAYANMAR / TIBETAN TRIBAL HEAD HUNTERSS .. SO THAT HE CAN GROW OPIUM ?.....
READ BOTH PARTS BELOW--
https://ajitvadakayil.blogspot.com/2019/12/ilp-cab-nrc-why-china-wants-arunachal.html
DID JEW GANDHI, WHO QUELLED OPIUM FARMER REVOLTS MENTION OR WRITE THE WORD OPIUM EVEN ONCE?..
http://ajitvadakayil.blogspot.com/2019/07/how-gandhi-converted-opium-to-indigo-in.html
DID FREE AND HONEST WRITER GEORGE ORWELL MENTION OPIUM EVEN ONCE..HE WROTE ANIMAL FARM BASED ON OPIUM SLAVERY IN INDIA ..
http://ajitvadakayil.blogspot.com/2018/04/fake-champaran-satyagraha-of-gandhi.html
DID THE RICHEST FAMILIES OF INDIA IN 1947, TATA/ BIRLA/ JK ETC ( ALL OPIUM AGENTS OF JEW ROTHSCHILD ) MENTION THE WORD OPIUM EVEN ONCE?.. DID NEHRU/ PATEL/ INC FREEDOM FIGHTERS / MEDIA / JUDICIARY MENTION THE WORD EVEN ONCE..
http://ajitvadakayil.blogspot.com/2010/11/drug-runners-of-india-capt-ajit.html
DID TAGORE / RAJA RAMOHAN ROY UTTER THE WORD OPIUM EVEN ONCE?
http://ajitvadakayil.blogspot.com/2011/08/opium-drug-running-tagore-family-capt.html
http://ajitvadakayil.blogspot.com/2011/07/opium-raja-british-stooge-ram-mohan-roy.html
DID THE FAMILIES WHO CONTROL AND RULE USA TODAY MENTION THE WORD OPIUM EVEN ONCE?
http://ajitvadakayil.blogspot.com/2010/12/dirty-secrets-of-boston-tea-party-capt.html\
I ASK MY READERS-
IF CAPT AJIT VADAKAYIL HAD NOT WRITTEN ABOUT ROTHSCHILD AND OPIUM DO YOU THINK ANYBODY ON THIS PLANET WOULD HAVE KNOWN ABOUT IT?..
TODAY THE CHINESE IN AMERICAN CHINA TOWNS OF SAN FRANSISCO DO NOT KNOW THAT THEIR FOREFATHERS WERE SLAVES WHO SUFFERED TEN TIMES MORE THAN BLACK SLAVES .. ONLY BLACKS MOAN ( LIKE JEWS )..
READ BOTH PARTS BELOW-
http://ajitvadakayil.blogspot.com/2020/03/chinese-slavery-capt-ajit-vadakayil.html
I ASK MY READERS , INDIANS WENT ABROAD AS SLAVES.. THEY WERE PUNISHED BY STARVATION FOR OBJECTING TO OPIUM BEING GROWN ON THEIR FIELDS..
http://ajitvadakayil.blogspot.com/2010/04/indentured-coolie-slavery-reinvented.html
ROTHSCHILD THOUGHT AMARTYA SEN COULD KOSHER WHITEWASH HIS OPIUM RELATED DELIBERATE FAMINE CRIMES IN INDIA.. HE EVEN GAVE AMARTYA SEN A ROTHSCHILD WOMAN EMMA TO MARRY.
http://ajitvadakayil.blogspot.com/2011/09/amartya-sen-gets-nobel-prize-for.html
I ASK MY READERS -- SHOULD WE NOT TEACH OUR CHILDREN THESE CRIMES MOST FOUL IN OUR NCERT TEXT BOOKS.. SPEAK FREELY..
DO YOU THINK MODI / SWAMY HAS THE GAAAND MEIN TATTI TO UTTER THE WORD "ROTHSCHILD" OR "OPIUM" EVEN ONCE.. AFTER ALL BOTH WORE A MOSSAD SPONSORED SIKH TURBAN IN 1976..
capt ajit vadakayil
..
PUT ABOVE COMMENT IN WEBSITES OF-
UN
UN CHIEF
PUITZER PRIZE COMMITTEE
RHODES SCHOLARSHIP COMMITEE
GRETA THUNBERG
NOBEL PEACE PRIZE COMMITTEE
THOMAS PIKETTY
HIS PIKETTY THINK TANK TEAM
PARIS SCHOOL OF ECONOMICS
LONDON SCHOOL OF ECONOMICS
MIT
ROGER GUESNERIE
FRENCH NATIONAL CENTRE FOR SCIENTIFIC RESEARCH (CNRS)
FRENCH NEWSPAPERS LIBÉRATION, AND LE MONDE.
YRJÖ JAHNSSON AWARD PANEL
JULIA CAGÉ
IMF
GITA GOPINATH
WORLD BANK
WORLD BANK CHIEF
MOODYs
FITCH
S&P
RAGHURAM RAJAN
ABHIJEET BANNERJEE
AMARTYA SEN
MANMOHAN SINGH
MONTEK SINGH AHLUWALIA
CHID BABY
PRANAB MUKHERJEE
YESHWANT SINHA
RUCHIR SHARMA
RBI
RBI GOVERNOR
ALL INDIAN BUSINESS SCHOOL DEANS
FINANCE MINISTER/MINISTRY CENTRE AND STATES
JAYATI GHOSH
ENTIRE BBC GANG
ENTIRE US MEDIA
MAJOR WORLD MEDIA
THOMAS FRIEDMAN
JAGDISH BHAGWATI
KAUSHIK BASU
ARVIND SUBRAMANIAN
BIMAL JAIN
ARVIND PANAGARIYA
TRUMP
PUTIN
BORIS JONSON
MACRON
ANGELA MERKEL
XI
RUERS OF AJOR EU NATIONS
AMBASSADORS TO FROM USA/ RUSSIA/ UK/ FRANCE / GERMANY/ EU NATIONS
EDITOR GLOBAL TIMES HU XIJIN
BILL GATES
MELINDA GATES
BILL GATES FOUNDATION
QUEEN OF ENGLAND
PRINCE CHARLES
PMO
PM MODI
HEALTH MINISTER/ MINISTRY CENTE- STATES
AMIT SHAH
HOME MINISTRY CENTRE/ STATES
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- Dear Captain,
https://economictimes.indiatimes.com/markets/commodities/news/growing-risk-of-liquidation-of-gold-in-india-chris-wood/articleshow/75770511.cms- JEW ROTHSCHILD WANTS INDIAs PRISTINE GOLD FOR HIS PRIVATE VAULTS..
IF GIVEN A FREE HAD MODI WILL GIVE IT TO HIM, CHEERED ON BY SWAMY..
BUT WE THE PEOPLE WILL DRIVE AWAY MODI TO ISRAEL ALONG WITH SWAMY-- IF HE DARES DO IT..
THE WHOLE WORLD IS IN SHIT STREET EXCEPT INDIA..BECAUSE OF THIS PANDEMIC..
BELOW: BOLLYWOOD SONGS ARE NOW WORSE THAN SHIT.. THE GOLDEN AGE IS OVER.
without my beloved -- the flute cant bring forth the music - my beloved is so angry - that music has fled my lips - when i do sing - it feels like every song of my heart is a lie-- this is how distant my love is from me - without your call - everywhere it feels lonely - the cuckoo no longer sings; the peacock no longer dances in the forest -my days are now empty, my nights are so lonely
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