argues is a social phenomenon driven by human institutions. As Piketty himself says: “Inequality is neither economic nor technological; it is ideological and political.”7 Yet it is a distinction which appears lost on the general public,8 who in their alienation see
capitalism as nothing more than the result of the class struggle which expresses itself in the increasing disparities between the rich and the poor. What draws more attention and resonance more generally with the public is Piketty’s proposed reforms.
Most notable among these is his progressive tax proposal. Piketty suggests that a progressive tax rate on the order of 80 percent on incomes over $500,000 or $1 million a year “will not only reduce the growth of the US economy but would in fact distribute the fruits of growth more widely while imposing reasonable limits on economically useless (or even harmful) behavior”9 – a proposal he argued the United States could sustain. The proposal was not as far out from the mainstream as one would have thought. Advised at the time by economists who worked with Piketty, Senator Elizabeth Warren propsed a set tax rate of two percent on household fortunes over $50 million and three percent on billionaires. It was a proposal which – if you are to believe the polls – was well-received by Americans, though nothing came of it as
democrats rallied around the “safer” choice of a Biden presidency. The proposal resonated with the presidential campaigns of Elizabeth Warren and Bernie Sanders, finding similar suggestions in each of their platforms being brought forth by
campaign consultants who had worked with
Piketty, though the tax rate was significantly reduced in each case.10
By contrast, Kohei Saito’s work is an admittedly Marxist, post-capitalist, green manifesto that argues “capitalism’s demand for unlimited profits is destroying the planet and that only
“degrowth” can repair the damage by slowing down social production and sharing wealth.” Drawing on specific references to Nature and ecology in Marx’s writing, Saito advocates an “end to mass production and the mass consumption of wasteful goods such as fast fashion.” He also recommends the world engage in “decarbonization through shorter working hours and prioritizing essential ‘labor-intensive’ work such as caregiving.” It is a vision, Saito says, that involves “going beyond capitalism.”11
To those who say critiques of capitalism are merely theories produced by insulated scholars that people need not take seriously, one need realize Piketty’s book sold more than 2.5 million copies by 2019 and was made into a full-feature documentary;12 and, Saito's theories have enjoyed similar success, with his book selling more than 500,000 copies in Japan alone. People are taking these critiques seriously.
Yet, even so, questions persist. For example, can Piketty’s high-tax rate truly initiate reform
as it does not account for the relative disparity
of income or wealth that would be retained and which could over time grow to such a scale that once again an inequal distribution of wealth would create an inequal relation of power within political circles strong enough to reinstate regressive tax policies?13 Does Saito’s
argument for degrowth communism represent
To the critics that say critiques of capitalism are outdated, one only need realize Piketty’s book sold more than 2.5 million copies by 2019 and was made into a full-feature documentary. Saito has been receiving similar success, with his book selling more than 500,000 copies in Japan alone.
11