While this seems to be more a product of sheer sloppy stats work than willful deceit, it is also not coincidental that his slipshod averaging techniques yielded a product that was consistent with his political message or that, upon finding that it hit desirable political notes, that product was put into print by a major academic press despite serious issues with the rigor of its analysis.Phillip W. Magness — historian – 19th century united states
Piketty Tricketty & Historical US Wealth Data
Phillip W. Magness | policy historian based at the Institute for Humane Studies at George Mason University.
The Austrian Libertarian world dismisses Picketty.
The austrian libertarian world says Piketty is wrong and inequality is not rising. But if it is rising, it's because the rich are better than everyone else. Either way, whatever, just cut taxes on the rich.
ReplyDeleteActually what they say is that inequality is good because it shows that capitalism is working. If government would just get out of the way, the rich could really get rich with no taxes to pay to support the moochers.
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ReplyDeleteAnd since we would be on a bullion standard then, we'd need a big army to make sure that our rich had enough gold to do all things that would be necessary.
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