Reading Capital... in the 21st Century (part 8 of x)

Though overall I think Piketty intends his book as a counter to the logic of austerity, there are several places where the permeation of that logic into all segments of the mainstream political spectrum, including European social democracy, are made quite evident. One such place is his discussion of pay-as-you-go (PAYGO) pension systems (such as the public pension systems in most of the world's wealthy nations). From his prediction that growth, both economic and demographic, will be slower in...