There is one great advantage to being an academic economist in France: here, economists are not highly respected in the academic and intellectual world or by political and financial elites. Hence they must set aside their contempt for other disciplines and their absurd claim to greater scientific legitimacy, despite the fact that they know almost nothing about anything.
Interpretation
The quote highlights the low respect for economists in France, suggesting they must be more open-minded towards other disciplines.
In this quote, Thomas Piketty critiques the status of academic economists in France, pointing out that their low esteem in the broader intellectual community compels them to confront their own biases and limitations. Instead of clinging to a false sense of superiority regarding their field's scientific credence, they are encouraged to engage with other disciplines, recognizing the value of diverse perspectives and expertise, which ultimately leads to sounder and more comprehensive economic discussions.
In practice
This quote could be used in a lecture on the importance of interdisciplinary approaches in academic research.
Contrary to a tenacious myth, France is not owned by California pension funds or the Bank of China, any more than the United States belongs to Japanese and German investors. The fear of getting into such a predicament is so strong today that fantasy often outstrips reality. The reality is that inequality with respect to capital is a far greater domestic issue than it is an international one.
The main force pushing toward reduction in inequality has always been the diffusion of knowledge and the diffusion of education.
Over a long period of time, the main force in favor of greater equality has been the diffusion of knowledge and skills.
When the rate of return on capital exceeds the rate of growth of output and income, as it did in the nineteenth century and seems quite likely to do again in the twenty-first, capitalism automatically generates arbitrary and unsustainable inequalities that radically undermine the meritocratic values on which democratic societies are based.
Having a decent share of the national wealth for the middle class is not bad for growth. It is actually useful both for equity and efficiency reasons.
The discipline of economics has yet to get over its childish passion for mathematics and for purely theoretical and often highly ideological speculation, at the expense of historical research and collaboration with the other social sciences.
Teaching and writing, to me, is really just seduction; you go to where people are and you find something that they're interested in and you try and use that to convince them that they should be interested in what you have to say.
Literature was the passport to enter a larger life; that is, the zone of freedom. Literature was freedom. Especially in a time in which the values of reading and inwardness are so strenuously challenged, literature is freedom.
My chief identity, to my mind, was not 'writer' but 'college dropout.'
If then a practical end must be assigned to a University course, I say it is that of training good members of society... It is the education which gives a man a clear, conscious view of their own opinions and judgements, a truth in developing them, an eloquence in expressing them, and a force in urging them. It teaches him to see things as they are, to go right to the point, to disentangle a skein of thought to detect what is sophistical and to discard what is irrelevant.
Education in Chess has to be an education in independent thinking and judging. Chess must not be memorized.
A teacher who is not dogmatic is simply a teacher who is not teaching.
Subscribe for the occasional hand-picked quote. No noise.