Roosevelt students / blogging about economics / and social justice!
Quote of the Day:
“When commercial capital occupies a position of unquestioned ascendancy, it everywhere constitutes a system of plunder.” -Karl Marx, Capital, pt II, ch. 21
Welcome to the Roosevelt Economics Department student blog! This is the first in what will hopefully be a series of daily postings with links to news and opinion pieces from across the web. Today’s quote comes from Marx, who seems to be an important point of departure in recent discussions of French economist Thomas Piketty’s new book Capitalism in the 21st Century. The book, not yet available to consumers in English translation, has nevertheless been the subject of numerous reviews, and seems set to provoke a intense debate in the economics profession. Piketty, a former wunderkind who was a professor of Economics at MIT at the tender age of 22, has already risen to prominence in the field for his work on income time-series data with Emmanuel Saez.
And speaking of young upstarts, today is also the official launch day for Nate Silver’s new, highly anticipated fivethirtyeight blog as part of ESPN. The blog, which began as Silver’s own project before becoming part of the New York Times, is shifting its focus away from politics somewhat and towards sports. At the moment, the site appears not to have launched, but we will keep an eye out for developments. In the meantime, Silver’s interview with New York Magazine makes interesting reading.
Also worth mentioning this morning is Annie Lowrey’s wonderful article highlighting the effects of income inequality in America, published over the weekend in the New York Times. She compares Fairfax County, VA to nearby McDowell County, WV, meditating on the incredible gap in living standards that appear simultaneously incongruous and yet intractable.
Happy St Patrick’s Day!