Evan Davis — Deirdre McCloskey vs Thomas Piketty - a clash of the inequality titans

Is wealth and income disparity the result of innovation, merit and just deserts, or a combination of luck, power, economic rent, and externality?


To me, it's pretty clear that in the aggregate it is a combination of both, but may differ widely in particular cases. As Michael Hudson notes, tax policy should  incentivize the former and disincentivize the later.

The Spectator
Deirdre McCloskey vs Thomas Piketty - a clash of the inequality titans
Evan Davis
(h/t Tyler Cowen at Marginal Revolution)