Piketty’s Capital in the Twenty-First Century is that rare phenomenon, an economics tome that flies off the shelves.
” . . . . .
The gist of Piketty’s book is simple. 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.
Lord (Adair) Turner, the former chairman of the Financial Services Authority, says Capital is “a remarkable piece of work”. Turner, who has name-checked Piketty in his recent lectures, added: “He is saying that we have a set of tendencies at work to which the offset has to be a degree of redistribution. I completely agree with him.”
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”.
Thirty-six year old Economics Minister Emmanuel Macron has been tasked by French President Hollande with reforming the country. But it won’t be easy. Socialists view him with suspicion and the party’s left wing is already preparing for battle.
. . . . .
The minister for economics, industry and information technology unfurled his far-reaching vision for a reinvigorated France. He spoke of the common welfare, which needed to once again take precedence over individual interests. And he underscored his exposition with a quote from the Socialist reformer Jean Jaurès from the year 1887.
The Mont Blanc Tunnel turned out to be an absolute horror for us. I guess when this tunnel was built they had no idea by how much traffic would increase, and especially how much these big trucks would pollute the air. I reckon these days they make sure that ventilation remains okay. Certainly they would not any more build a tunnel with only one lane in each direction. The Mont Blanc Tunnel goes for 11 kilometres without any interruptions!! We had liked it in France and in Switzerland but we were happy when we finally arrived in Italy. Our beautiful 2CV had made it!
The following I copied from a Google page.
Tin snail, or timely saviour? The Citroen 2CV was mocked by many in its 40-year lifespan, but in the impact it had on cheap personal transportation it ranks alongside other greats like the Mini, Beetle and Land Rover.
The last ‘official’ 2CVs were built by Citroen in 1990, but now, against a background of rigorously policed speeds and closely scrutinised running costs, restored versions of the four-seat convertible are once again being built – in Wiltshire. And they’re finding a ready market among drivers looking for character, fun and an escape from depreciation.
This is a picture of the Mont Blanc Tunnel.
We stayed in different hotels during our trip through Italy. In Rome we found a very reasonably priced hotel close to the Vatican.
It was a Wednesday when we turned up at the Vatican. Lots of tourists had arrived in buses from Germany on that day. They thought we had come with them from Germany. The Pope greeted the tourists in German. We could hardly see him for he was a great distance away from us.
We spent a lovely day in Venice, we also had a look at the leaning tower of Pisa. But I have no picture of it. Here is another picture with Caroline and me in Venice.
From Italy we went to Austria and from there for a trip to Bayrischzell along the Alpenstrasse. On the way we had a look at Salzburg, the birthplace of Mozart. On the Alpenstrasse we were caught in a blizzard. After a stay over at Bayrischzell we tried to reach the Zugspitze, the highest mountain in Germany. But it was bad weather. This is why the cable cars to the top of the Zugspitze were not in operation.
Here is what I Wikipedia says about the cable cars:
“Three cable cars run to the top of the Zugspitze. The first, the Tyrolean Zugspitze Cable Car, was built in 1926 and terminated on an arête below the summit before the terminus was moved to the actual summit in 1991. A rack railway, the Bavarian Zugspitze Railway, runs inside the northern flank of the mountain and ends on the Zugspitzplatt, from where a second cable car takes passengers to the top. The rack railway and the Eibsee Cable Car, the third cableway, transport an average of 500,000 people to the summit each year. In winter, nine ski lifts cover the ski area on the Zugspitzplatt. The weather station, opened in 1900, and the research station in the Schneefernerhaus are mainly used to conduct climate research.”
We made it to Neuschwanstein Castle just a few minutes before they were about to close. O our way back to Austria we stayed near Ober-Ammergau. We had accommodation in a pleasant hotel. When we woke up in the morning, our car was covered in snow.
Then back to Windischgarsten where Peter’s sister Eva lives with Harald, her husband. Harald built this house all on his own:
Eva and Harald with their dog Blinki in early 1983.
We stayed with Eva and Harald over Easter. Peter’s other sister, Ilse, had come also with husband Klaus and sons Daniel and Stefan. Ilse and her family live in Berlin. They all still live there. After Easter we travelled to Berlin. My Mum lived in a seniors’ home unit at the time. We took her in our 2CV to the Brandenburg Gate which was being restored after the Fall of the Wall a few months earlier.
24 years ago Mum was 79, about the same age that I am now!
Here is Peter with my brother Peter Uwe in Berlin, Adenauer Platz.
After returning our car in Paris we spent a few great days exploring the city, staying in a lovely old hotel.
Caroline is only eleven. I think she looks pretty grown up already!Caroline and Peter did get into the shot I took!Waiting for our flight at the airport. Caroline took this picture. This hat I wear was still pretty new then. I still have it and wear it sometimes!
As I mentioned in the first Part, we spent three days in Anaheim to visit Disneyland. Here is just a sample of some Disneyland photos.
In Singapore we went to the Zoological Gardens. Peter and Caroline had breakfast with an Orangutan.
This is a picture that Caroline took at Sydney Airport before our Departure.
Gaby had come with David. Also Monika was there to farewell us. This was 24 years ago, meaning that none of Monika’s girls had been born yet, but Monika had of course already Troy and Ryan. They were ten at the time.
Here, Caroline is in the picture too, meaning we are to be seen here with all three daughters!In In Singapore we went to this Chapel.We also went on a temple tourOur Hotel had a Swimming Pool at the Top of the building.This was the View from the Top of the Building.I enjoyed our Stay in Singapore.
After Singapore our next destination was Paris. I already mentioned in Part One that we picked up a 2CV in Paris.
We did a bit of sightseeing in Paris, where we had booked a hotel for two nights. Then we did drive through country area. Close to where the Mt Blanc Tunnel leads towards Italy we had some overnight stops at a hotel which had very basic accommodation. The good thing was, that from there it was not far to Switzerland. We had a few excursions to Geneva. I am sure we made some pictures there but unfortunately cannot find them at present. I have no idea, why they are not in the books with all the other pictures from this trip.
We arrived at this hotel in the evening and were happy to stay there for it was reasonably priced and the owners were very friendly.
AuntyUta 