I don't think they said "wiped out" -- only that they became less important relative to "wage earners".
On Tue, Nov 14, 2006 at 12:00:08PM -0500, Doug Henwood wrote: > On Nov 14, 2006, at 11:49 AM, Carrol Cox wrote: > > > looking back on the > > history of the 19th, 20th, and 21st centuries will see that the > > core of > > the ruling class consists of the rentier strata of the capitalist > > class > > Except that there aren't many rentiers around today. Piketty & Saez > demonstrate that they were wiped out in the mid-20th century by > depression, war, and inflation. The highest-income people today > "work" for their money, as CEOs, hedge fund jockeys, etc. > > Doug -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail michael at ecst.csuchico.edu michaelperelman.wordpress.com
