Yves Smith — Financial Times Finds “Many” Errors in Piketty Analysis, Argues They Undermine His Thesis

My bet is that the Lance Taylor critique will in the end do much more to undercut Piketty’s findings than the Financial Times corrections and recalibrations, as useful as those are. Taylor challenged the widely-touted Piketty’s assertion that r > g (the rate of return on capital exceeds the growth rate of the economy). NC reader Ben Johannson provided a helpful summary of Taylor’s paper:
Naked Capitalism
Financial Times Finds “Many” Errors in Piketty Analysis, Argues They Undermine His Thesis
Yves Smith