No, that’s spot on, I think. I can think of examples of this historically - Russia in the Soviet Union treated the other members of the USSR as colonies. The north of Yugoslavia treated the southern, Albanian part as a colony. The metropole-periphery model as it’s known works well nationally as it does internationally. It’s a means of extracting resources and setting up markets for those resources. So, we can think of colonialism as a stage of capitalism perhaps? I guess Piketty doesn’t come right out and say that, but I it can be argued he’s implying that it’s a part of the stage of development of a capitalist system?
Thoughts about his use of the term “social construct” starting on 55. He discusses how people historically thought about national accounts and that changed in the interwar period, to become moderating the boom-bust cycle in order to create stability for the most number of people (57). Thoughts on that? He’s certainly arguing the notion that markets are “natural” is BS, which I think is important. If it’s a social construct, you can tinker with markets and make them the most beneficial to human beings, right?
Maybe that plays into his discussion of inequality, neo-colonialism, and how we can deal with that, given hindsight, especially given @ChuckV’s quote and the link about BRICS from @aeon. I thought this was a good quote:
"China takes our primary goods and sells us manufactured ones. This was also the essence of colonialism," Sanusi wrote in a March 11 opinion column in the Financial Times.
"Africa must recognize that China - like the U.S., Russia, Britain, Brazil and the rest - is in Africa not for African interests but its own," Sanusi added.
It seems in many ways, little has changed since when Hailie Salassie/Ras Tafari gave his speech to the UN in the 60s… Africa is still being deprived of its resources by exploitative means. How much of this is underpinned by greed and how much by racism?
Also… damnable new bifocals… These are going to take some getting used to.