Piketty and the Political Rentier Class

In this excellent article, business consultant Steve Fritzinger picks away at author Thomas Piketty and Piketty’s now-famous book, Capital in the Twenty-First Century.

Fritzinger notes that Piketty doesn’t really ever discuss where actual wealth comes from. Piketty refers to investors as “rentiers,” which really refers to corporate parasites, from what I understand. And Fritzinger believes that a particular kind of “capital” that Piketty might favor is political capital, and points to the Clintons as an example.

An example I can come up with right now for the rentier political capitalist class is the new war in Iraq and Syria that Obama wants to start, that he says will take years to accomplish. But really, he wants Democrats to get elected in 2014 and 2016, and he wants the military contractors to make financial contributions to Democrat candidates. So he and his minions in Washington and in the media will make the military contractors happy. You don’t have to be a brain surgeon to figure that out.

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