Donald J. Boudreaux — Piketty: A Wealth of Misconceptions

Capital in the Twenty-First Century, Thomas Piketty's thoughtful manifesto, sadly gets capitalism all wrong.

Trickle down, you see.

Published in Barron's, telling the rich that everything is OK. Inequality is natural and growing inequality is a hoax. Piketty is dope that doesn't understand basic economics. Forget him. Nothing to see here.

Why? "Donald J. Boudreaux is professor of economics at George Mason University and holds the Martha and Nelson Getchell Chair at the Mercatus Center."

The Mercatus Center was founded by Rich Fink as the Center for the Study of Market Processes at Rutgers University. After the Koch family provided more than thirty million dollars[2] to George Mason University, the Center moved to George Mason in the mid-1980s before assuming its current name in 1999.[2] The Mercatus Center is a 501(c)3 non-profit and does not receive support from George Mason University or any federal, state or local government, but rather is entirely funded through donations, including some from companies like Koch Industries[3] and ExxonMobil,[4] individual donors and foundations. As of 2011, the Center shows that 58% of its funding comes from foundations, 40% from individuals, and 2% from businesses.[1]

Barron's
Piketty: A Wealth of Misconceptions
Donald J. Boudreaux |