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In particular, the reduction of inequality that took place in most developed countries between 19 was above all a consequence of war and of policies adopted to cope with the shocks of war. The history of the distribution of wealth has always been deeply political, and it cannot be reduced to purely economic mechanisms. One should be wary of any economic determinism in regard to inequalities of wealth and income.In the last third of the 19 th century, wages finally began to increase: the improvement in the purchasing power of workers spread everywhere, and this changed the situation radically, even if extreme inequalities persisted and in some respects continued to increase until WW I. Marx’s dark prophecy came no closer to being realized than Ricardo’s.What the bourgeoisie therefore produces, above all, are its own gravediggers, Its fall and the victory of the proletariat are equally inevitable.” (Marx, quoted on p. “The development of Modern Industry cuts from under its feet the very foundation on which the bourgeoisie produces and appropriates products.

THE DARK PROPHECY AR ANSWERS HOW TO

By the time Marx published the first volume of Capital in 1867, exactly one half century after the publication of Ricardo’s Principles, economic and social realities had changed profoundly: the question was no longer whether farmers could feed a growing population or land prices would rise sky high but rather how to understand the dynamics of industrial capitalism, now in full blossom.Hence there will always be a fundamentally subjective and psychological dimension to inequality, which inevitably gives rise to political conflict that no purportedly scientific analysis can alleviate. Peasant and noble, worker and factory owner, waiter and banker: each has his or her own unique vantage point and sees important aspects of how other people live and what relations of power and domination exist between social groups, and these observations shape each person’s judgment of what is and is not just. The concrete physical reality of inequality is visible to the naked eye and naturally inspires sharp but contradictory political judgments.

When the rate of return on capital exceeds the rate of growth of output and income, as it did in the nineteenth century and seems quite likely to do again in the twenty-first, capitalism automatically generates arbitrary and unsustainable inequalities that radically undermine the meritocratic values on which democratic societies are based.

If it’s a conditional, spell out its antecedent and consequent, etc. For instance (illustration) if you say it’s an explanation, say what it purports to explain (the explanandum) and how it purports to explain it (the explanans). If it’s something else, say why it is what it is. If it’s an argument, spell out its premises and conclusion. Identify what kind of passage each is: an argument or one of the seven non-arguments. Examples from Thomas Piketty’s Capital in the Twenty-First Century (2014)

The dark prophecy ar answers