![]() ![]() His model has two implausible assumptions that, when corrected, eliminate his prediction of permanently rising wealth and wealth inequality. Piketty’s model does not match his data as well as he claims. ![]() However, the best critiques of Piketty have shown that most of the links in his argument are broken. He recommends punitive taxes on high incomes and wealth to prevent this scenario. He proposes a model that matches the data and uses that model to predict rising wealth inequality in the 21st century. Piketty uses data stretching back to the 18th century to describe the historical evolution of wealth and inequality. It has remained an issue in campaigns and policy debates ever since and promises to remain so through the 2016 election. President Barack Obama brought the issue to the forefront in December 2011 in a high-profile speech in Osawatomie, Kansas. It is the most talked-about and most critiqued economics book of 2014 because Piketty’s timing was perfect: He released the English edition when income inequality was being actively debated in the United States. Thomas Piketty’s Capital in the Twenty-First Century is a treatise on how wealth inequality evolves in capitalistic economies. ![]()
0 Comments
Leave a Reply. |