There is a lot of important thought in this film, but it misses an entire, and important, chapter in the history of economic thought that provides clearer answers and actual solutions.
Early in the film, there is a great deal of talk about land. In classical economics, it was recognized that there are not two but three factors of production, LAND, LABOR and CAPITAL. The neoclassical economists, from whom almost all of today's college and university instructors learned their economics, somehow managed to treat LAND as if it is merely a subset of CAPITAL.
But LAND and CAPITAL are vastly different. LAND includes all the the natural creation -- the sites under our feet on which we live and work, the natural resources we draw from the earth,. the electromagnetic spectrum, geosynchronous orbits. LABOR uses those things to supply its wants and needs. Thrifty laborers can use their excess to create better and better tools that make LABOR more productive. That's CAPITAL.
But under it all is LAND. And if you think land is trivial today, consider that a single block in midtown Manhattan can be worth $250 million, $500 million or more. An acre of good farmland might be worth $2,500. It would take 100,000 acres of that farmland to equal the value of that single $250 million acre in Manhattan. And then we let them call it "CAPITAL"
Land was here before people were, and we're all equally entitled to share in its value. That's the chapter of the history of economic thought that most of the presenters in this film seem to have missed.
The names most clearly associated with it are Adam Smith, David Ricardo, John Stuart Mill and Henry George. Today, the people who know these ideas are often known as Georgists. Their thought has answers from which this film, and all of us, would benefit.
Capital in the Twenty-First Century
2019
Action / Documentary
Capital in the Twenty-First Century
2019
Action / Documentary
Plot summary
Film adaptation of French economist Thomas Piketty's ground-breaking global bestseller of the same name: an eye-opening journey through wealth and power.
Uploaded by: FREEMAN
March 07, 2021 at 10:15 AM
Director
Top cast
Tech specs
720p.BLU 1080p.BLU 720p.WEB 1080p.WEBMovie Reviews
So Much of so-called Capital is Land
Where is Karl Marx?
That film just showed a little top of the big iceberg... Even did not mention "Capital" of Karl Marx.. This guy and his book could tell you much more about Capital.
All about the Benjamins
Or whoever is on your ... money thing you use. A documentary about capitalism and about how money works. Most seems to be .. well something you should know even without seeing the movie at hand. The documentary also takes examples of how movies portrays money - Gordon Gekko cannot miss this opportunity - Greed is good? Not really, but then again we have different world views, so there is that.
The documentary also raises a few questions, but don't expect this to be the solution or answer ... it just shows you many things. I would think that many will agree that a lot of it does not work for the majority of people ... the rich might beg to differ of course. I have not read the book this is based on, but I think most will prefer a movie anyway to reading ... which of course is not necessarily a good thing.