金融時報:“皮凱蒂泡沫”怎樣煉成

“皮凱蒂泡沫”怎樣煉成

突然間，一種老生常談的理論爆得大名，成為似乎支持者和反對者人人都在談?wù)摰?ldquo;重要思想”，這種有趣的社會經(jīng)濟現(xiàn)象，最近就發(fā)生在法國左派經(jīng)濟學(xué)家、“當(dāng)代馬克思”托馬·皮凱蒂的身上。這是怎么回事？FT諷刺專欄作家施里姆斯利(Robert Shrimsley)做了辛辣的分析。

測試中可能遇到的詞匯和知識：

entrench [?n'tren(t)?; en-] 挖壕溝，確立

bent [bent] 愛好

escape velocity 逃逸速度

absinthe['æbs?nθ] 苦艾酒

take a knock 受到情感或經(jīng)濟上的打擊

ubiquitous [ju?'b?kw?t?s] 無所不在的

swingeing ['sw?n(d)???] 激烈的，嚴厲的

Francis Fukuyama 弗朗西斯·福山，日裔美籍學(xué)者，斯坦福大學(xué)研究員，他在名著《歷史的終結(jié)》中提出，民主制可能是人類社會演化最終的政府形式。

The nine stages of the Piketty bubble (747 words)

By Robert Shrimsley

Concern is growing that much of the western world is heading into a “Piketty bubble” – a social and economic phenomenon that arises when everyone who considers themselves to be anybody feels the need to talk about a new book by French economist Thomas Piketty.

Capital in the Twenty-First Century, which argues that modern capitalism is entrenching inequality, was written a year ago in an obscure European dialect(French). But it is now being hailed as a masterpiece after it was discovered by a US publisher and translated into American. Although available for digital download, it is proving popular in printed form as even those who know they will never read it want it on their bookcase.

Unlike the five phases in US economist Hyman Minsky's classic bubble theory, a Piketty bubble boasts nine stages.

Stage one – buy-in: Anyone who believes they are part of the “big conversation” feels the need to talk about Prof Piketty's views. Initially these are people of an economic bent who are genuinely interested in his work but soon other “thinkers” feel their credibility requires heavy investment in Piketty and so start referencing his conclusions.

Stage two – escape velocity: A critical mass of enthusiasm sees Piketty rise faster than Bitcoin. Escape velocity is reached as politicians and pundits realise its value in supporting their existing convictions. They observe that his book crystallises “the big issue of our day”. Such references must also always include the phrase “in his important work”. Bluffers' guides spring up on the internet.

These guides also offer information on how to pronounce his name. Getting this right marks you out as an early investor, someone with whom he might have discussed the Laffer curve over a glass of absinthe before a Paris St-Germain(French football league champion) match.

Don't call him Thomas, it's “Thom-ah”. Correct pronunciation is crucial. The type of intellectual investment that boosts your career capital; “Thomas” sounds cheap.

Stage three – backlash: Initially this stage is welcomed by admirers as validation of the strength of Prof Piketty's work since it shows he has worried his opponents. But his credibility takes a knock when it emerges he is François Hollande's favourite economist. Then his credentials as a French intellectual are tainted by rumours he has never ridden a motorcycle or attended a soirée with (famous French singer and actress) Vanessa Paradis. Conservatives dispute Prof Piketty's claims on inequality, arguing that it cannot be that bad since the poor all have access to running water. (Milton Friedman explained that the advancement of technology benefit mainly the poor, for example tap water: rich people enjoy clean water with or without this technology, while poor people can have cheap clean water through it. Thus, although income gap is big, living standard gap is not that big.) Still, confidence stays high as he remains at the heart of the “debate”.

In Stage four – counter-offensive Prof Piketty's supporters fight back pointing out that most of his critics have not read his book. This is followed by Stage five – rearguard, in which critics reply that most supporters haven't read it either.

Stage six – boredom: As Piketty references become ubiquitous, people begin to lament the overhyping of a book which “doesn't tell us anything we did not know”.

In stage seven – disassociationeven supporters begin to be embarrassed to refer to him. Conversations start to include phrases like: “Look, I know it's a bit cliche to mention Piketty but… ” Reassured that nothing will actually change, opponents stop bothering to attack his proposals for a swingeing wealth tax.

Stage eight – denial offers proof the bubble has burst as members of the thinking classes now feel it is chic to admit that they never read the work. The brand is further cheapened for intellectuals when his work is picked up by Russell Brand.

Stage nine – relocation: People move Prof Piketty's book from the living room to the lavatory, where it sits on a shelf sandwiched between Stephen Hawking's A Brief History of Time and Francis Fukuyama's The End of History.

Prof Piketty, meanwhile, faces complaints that as wealth accrues disproportionately to star writers, his triumph is increasing inequality among economic authors.

There is a possible much later stage 10 – rediscovery. A new crisis promotes a revival in which people return to the book and note that Prof Piketty “had some interesting things to say on this subject”.

請根據(jù)你所讀到的文章內(nèi)容，完成以下自測題目：

1.According to these stages, who started this “bubble”?

A.People who interested in economics and in Piketty.

B.Everyone who considers themselves to be important.

C.Publishers and book sellers.

D.Politicians and pundits.

答案(1)

2.What do we know about Thomas Piketty?

A.He's someone discussing the Laffer curve with absinthe before a Paris St-Germain match.

B.He is French president Francois Hollande's favorite economist.

C.Piketty used to be a conservative scholar favoring economic freedom over equality.

D.Rumours go that he once rode a motocycle attending a soiree with Vanessa Paradis.

答案(2)

3.What policy is being proposed in Piketty's blockbuster book?

A.It proposes no policies.

B.François Hollande's policies.

C.Providing free running water.

D.Heavy wealth tax.

答案(3)

4.Which of the following is the best summary of the time sequence? (You are welcomed to look back if you are not sure.)

A.escape velocity--counter offensive--rearguard--denial--relocation

B.escape velocity--backlash--counter-offensive--boredom--rediscovery

C.buy-in--escape velocity--rearguard--disassociation--denial

答案(4)

* * *

(1)答案：A.People who interested in economics and in Piketty.

解釋：在第一個階段，那些“覺得自己在參與重要的話題的人”，開始談?wù)撈P蒂，這些人是真對這個感興趣的： Initially these are people of an economic bent who are genuinely interested in his work.

后面的政客和權(quán)威人士開始談?wù)撍鼊t意味著開始“大紅大紫”的階段。

(2)答案：B.He is French president Francois Hollande's favorite economist.

解釋：A是為了諷刺那些把“托馬斯”按照法語來發(fā)音成“托馬”的人，他們覺得這樣讓自己顯得很高大上，像是那種在球賽前還要一邊喝酒一邊討論經(jīng)濟學(xué)的知識精英。 C在文中并未出現(xiàn)。D原意是諷刺“法國的著名學(xué)者”們：“皮凱蒂這個宅男既不騎摩托車又不參加影星的聚會，還算是法國學(xué)者嗎？”

(3)答案：D.Heavy wealth tax.

解釋：文中只有一處（第七階段）提到了他主張什么政策來應(yīng)對貧富差距：高額財產(chǎn)稅。

(4)答案：B.escape velocity--backlash--counter-offensive--boredom--rediscovery

解釋：這個完整的周期是從這一輪流行開始到下一輪流行結(jié)束的，在這個過程之中，支持者和反對者交鋒數(shù)個回合。前幾個回合，反對者挺把它當(dāng)回事，到后面的回合，連支持者也不情愿提起這本書了，并且，opponents stop bothering to attack his proposals for……