The best proof yet that nobody has actually read Piketty’s book
In other words, very few economists believe that Thomas Piketty’s equation r > g explains the rise in US inequality over the past 40 years. The punchline here, however, is that Piketty’s book does not say that r > g explains the rise in US inequality over the past 40 years.
The best criticisms of Piketty have not come from the media or right wing hacks. They’ve come from policy wonks in the center.
The data sets and analysis for Piketty’s Capital In The 21st Century. In R. On github.
Amartya Sen: I think that Piketty’s conclusions mostly stand
I think that Piketty’s conclusions mostly stand. There are one or two exceptions, including the fact that these conclusions probably apply a little less to the United Kingdom than to many of the other countries which he discusses – they certainly apply to the United States very well. So I think that the summary story that inequality has been growing quite sharply in recent decades, and in recent years in particular, is true.