Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 150
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 151
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 97
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

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        LATEST NEWS UPDATES | Wealth Inequality in a Capitalist Society -Prabhat Patnaik    </title>
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Two taxes &ndash; inheritance and wealth -- alone, levied only on the top 1% of the population, would be enough to fetch Rs.14.67 lakh crore.

It is often believed that the ability to pass on property to one&rsquo;s progeny is an..."/>
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Two taxes &ndash; inheritance and wealth -- alone, levied only on the top 1% of the population, would be enough to fetch Rs.14.67 lakh crore.

It is often believed that the ability to pass on property to one&rsquo;s progeny is an..." />
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                            <p style="text-align:justify">-Newsclick.in</p><p style="text-align:justify"><em>Two taxes &ndash; inheritance and wealth -- alone, levied only on the top 1% of the population, would be enough to fetch Rs.14.67 lakh crore.</em></p><p style="text-align:justify">It is often believed that the ability to pass on property to one&rsquo;s progeny is an essential element of capitalism, without which the capitalists&rsquo; incentives will dry up and the system will lose its dynamism. Nothing could be further from the truth; indeed the acquisition of property through inheritance is contrary to the bourgeois justification for capitalist property.</p><p style="text-align:justify">This justification lies in the claim that the capitalists have some special quality that is rare, whose employment makes the nation prosperous and for which they must be rewarded. But there is no unanimity among bourgeois spokesmen on what exactly this special quality is.</p><p style="text-align:justify">This quality cannot consist in their supervising the process of production, for such supervision is typically exercised by salaried personnel who are at best superior workers; they get a salary and not profits (unless they also happen to own some property in the form of shares). It is in recognition of this fact that John Kenneth Galbraith had talked of firms being run not by the capitalists but by what he called the &ldquo;technostructure&rdquo;.</p><p style="text-align:justify">Please <a href="https://www.newsclick.in/wealth-inequality-in-a-capitalist-society?fbclid=IwAR2ctkuqx2eB49-g8rVunOQHPfkdZiUEQtpDB8envZGAzASZRVBjkpGdcIY" title="https://www.newsclick.in/wealth-inequality-in-a-capitalist-society?fbclid=IwAR2ctkuqx2eB49-g8rVunOQHPfkdZiUEQtpDB8envZGAzASZRVBjkpGdcIY">click here</a> to read more.</p>                                                           
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Two taxes &ndash; inheritance and wealth -- alone, levied only on the top 1% of the population, would be enough to fetch Rs.14.67 lakh crore.

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                            <p style="text-align:justify">-Newsclick.in</p><p style="text-align:justify"><em>Two taxes &ndash; inheritance and wealth -- alone, levied only on the top 1% of the population, would be enough to fetch Rs.14.67 lakh crore.</em></p><p style="text-align:justify">It is often believed that the ability to pass on property to one&rsquo;s progeny is an essential element of capitalism, without which the capitalists&rsquo; incentives will dry up and the system will lose its dynamism. Nothing could be further from the truth; indeed the acquisition of property through inheritance is contrary to the bourgeois justification for capitalist property.</p><p style="text-align:justify">This justification lies in the claim that the capitalists have some special quality that is rare, whose employment makes the nation prosperous and for which they must be rewarded. But there is no unanimity among bourgeois spokesmen on what exactly this special quality is.</p><p style="text-align:justify">This quality cannot consist in their supervising the process of production, for such supervision is typically exercised by salaried personnel who are at best superior workers; they get a salary and not profits (unless they also happen to own some property in the form of shares). It is in recognition of this fact that John Kenneth Galbraith had talked of firms being run not by the capitalists but by what he called the &ldquo;technostructure&rdquo;.</p><p style="text-align:justify">Please <a href="https://www.newsclick.in/wealth-inequality-in-a-capitalist-society?fbclid=IwAR2ctkuqx2eB49-g8rVunOQHPfkdZiUEQtpDB8envZGAzASZRVBjkpGdcIY" title="https://www.newsclick.in/wealth-inequality-in-a-capitalist-society?fbclid=IwAR2ctkuqx2eB49-g8rVunOQHPfkdZiUEQtpDB8envZGAzASZRVBjkpGdcIY">click here</a> to read more.</p>                                                           
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Two taxes &ndash; inheritance and wealth -- alone, levied only on the top 1% of the population, would be enough to fetch Rs.14.67 lakh crore.

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Two taxes &ndash; inheritance and wealth -- alone, levied only on the top 1% of the population, would be enough to fetch Rs.14.67 lakh crore.

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    <h1 class="cat-box-title">Wealth Inequality in a Capitalist Society -Prabhat Patnaik</h1>
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                            <p style="text-align:justify">-Newsclick.in</p><p style="text-align:justify"><em>Two taxes &ndash; inheritance and wealth -- alone, levied only on the top 1% of the population, would be enough to fetch Rs.14.67 lakh crore.</em></p><p style="text-align:justify">It is often believed that the ability to pass on property to one&rsquo;s progeny is an essential element of capitalism, without which the capitalists&rsquo; incentives will dry up and the system will lose its dynamism. Nothing could be further from the truth; indeed the acquisition of property through inheritance is contrary to the bourgeois justification for capitalist property.</p><p style="text-align:justify">This justification lies in the claim that the capitalists have some special quality that is rare, whose employment makes the nation prosperous and for which they must be rewarded. But there is no unanimity among bourgeois spokesmen on what exactly this special quality is.</p><p style="text-align:justify">This quality cannot consist in their supervising the process of production, for such supervision is typically exercised by salaried personnel who are at best superior workers; they get a salary and not profits (unless they also happen to own some property in the form of shares). It is in recognition of this fact that John Kenneth Galbraith had talked of firms being run not by the capitalists but by what he called the &ldquo;technostructure&rdquo;.</p><p style="text-align:justify">Please <a href="https://www.newsclick.in/wealth-inequality-in-a-capitalist-society?fbclid=IwAR2ctkuqx2eB49-g8rVunOQHPfkdZiUEQtpDB8envZGAzASZRVBjkpGdcIY" title="https://www.newsclick.in/wealth-inequality-in-a-capitalist-society?fbclid=IwAR2ctkuqx2eB49-g8rVunOQHPfkdZiUEQtpDB8envZGAzASZRVBjkpGdcIY">click here</a> to read more.</p>                                                           
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Wealth Inequality in a Capitalist Society -Prabhat Patnaik

Published on Nov 6, 2020   Modified on Nov 6, 2020

-Newsclick.in Two taxes – inheritance and wealth -- alone, levied only on the top 1% of the population, would be enough to fetch Rs.14.67 lakh crore. It is often believed that the ability to pass on property to one’s progeny is an essential element of capitalism, without which the capitalists’ incentives will dry up and the system will lose its dynamism. Nothing could be further from the truth; indeed the acquisition of property through inheritance is contrary to the bourgeois justification for capitalist property. This justification lies in the claim that the capitalists have some special quality that is rare, whose employment makes the nation prosperous and for which they must be rewarded. But there is no unanimity among bourgeois spokesmen on what exactly this special quality is. This quality cannot consist in their supervising the process of production, for such supervision is typically exercised by salaried personnel who are at best superior workers; they get a salary and not profits (unless they also happen to own some property in the form of shares). It is in recognition of this fact that John Kenneth Galbraith had talked of firms being run not by the capitalists but by what he called the “technostructure”. Please click here to read more.

Newsclick.in, 6 November, 2020, https://www.newsclick.in/wealth-inequality-in-a-capitalist-society?fbclid=IwAR2ctkuqx2eB49-g8rVunOQHPfkdZiUEQtpDB8envZGAzASZRVBjkpGdcIY

Tagged with: Weath Inequality Capitalism Wealth Distribution Asset Ownership Income Distribution

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