Friday, May 23, 2014

Financial Times: We’ve found some, ahem, “serious inconsistencies” in Thomas Piketty’s numbers « Hot Air

Financial Times: We’ve found some, ahem, “serious inconsistencies” in Thomas Piketty’s numbers « Hot Air: "As Ed already noted during the advent of Thomas Piketty’s not-so-revolutionary “Capital in the Twenty-First Century,” there are some serious fundamental flaws in the Piketty narrative in which modern economic growth has somehow ravaged the lower and middle classes while the upper echelons of society enjoyed the lion’s share of the benefits, and we are now supposedly in the midst of an income-inequality crisis. Piketty got very obviously picky and choosey with a whole lot of the data points he used to construct his arguments, and the Financial Times just did their own investigation into the exact math he employed. The results?"



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