Branko Milanovic — Where I disagree and agree with Debraj Ray’s critique of Piketty’s Capital in the 21s Century

Two people whose opinion I hold in very high esteem have told me, “Read Debraj Ray’s critique of Piketty; It is the best written yet.” I have read it before, but only in parts, and have focused on a few rather unimportant points in the first part of Debraj’s piece. So I decided now to read it carefully, and in full. It is a short piece, some 9 pages long. It is very well and clearly written. There are many things with which I agree. But there are also many with which I do not. Let me start, because it is more fun, with the latter.

globalinequality
Where I disagree and agree with Debraj Ray’s critique of Piketty’s Capital in the 21s Century
Branko Milanovic | Lead economist, Development Research Group, Poverty and Inequality Unit, World Bank
(h/t Mark Thoma at Economicst's View)

See also, Why the FT comment on Piketty's weighting does not make sense