Wednesday, April 30, 2014

The daily Piketty

Robert Kuttner points to what Piketty omitted and is looking forward to a sequel.
Yves Smith from the left and Tyler Cowen from George Mason University are not happy with Piketty. Yves Smith thinks that the following piece is 'dead on' Piketty Dikitty Rikitty. Tyler Cowen has several pieces in Marginal Revolution which I will leave out. Apparently, Piketty is not that popular in France. The Economist explains "Perhaps the chief reason, though, is that questions about inequality, the centrepiece of Mr Piketty’s research, have long been central to the political debate in France, a country that already has an annual wealth tax on assets. This has been true for the right as much as" for the left. Jacques Chirac, a Gaullist, was first elected president by campaigning to mend the country’s “social fracture”. Mr Hollande was at his most passionate on the campaign stump when denouncing the world of finance as his “chief adversary”, and the super-rich as “grasping and arrogant”. In short, drawing attention to resurgent inequality has a sense of novelty in America, but in France it is a political given.
More at Brad Delong including this questions and answers.

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