An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
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Thursday, May 15, 2014
Matt Bruenig — What Larry Summers Gets Wrong On Piketty's 'Capital'
Seems that Sumers did not read Piketty carefully, or he is dissembling. Dan Kervick criticized Summer's take on Piketty similarly.
Also his review contains a subtext of resentment. He's wondering why Piketty is all the rage, and nobody is paying that much attention to his secular stagnation stuff.
Summers and DeLong seem to be working overtime to try to resuscitate Summers's reputation and prepare him for another gig in an H.R. Clinton administration.
Yeah, I think Summers probably just did not read Piketty very carefully.
ReplyDeleteThis was Summers last month when Piketty came to speak at Harvard:
http://www.ibtimes.com/larry-summers-inequality-subject-worthy-yawns-1579134
Also his review contains a subtext of resentment. He's wondering why Piketty is all the rage, and nobody is paying that much attention to his secular stagnation stuff.
Summers and DeLong seem to be working overtime to try to resuscitate Summers's reputation and prepare him for another gig in an H.R. Clinton administration.