James Hamilton — Piketty, Piketty

Piketty, Piketty: I’ve explained [1], [2] why the economic theory underlying Thomas Piketty’s Capital in the Twenty-First Century is deeply flawed, with Per Krusell and Tony Smith [1], [2] making essentially the same point. Useful third-party summaries on this issue include Free Exchange andAlex Tabarrok. Brad DeLong [1], [2], continues to vigorously criticize Krusell and Smith without even mentioning or addressing the actual issue raised in their analysis. See also Rick Stryker [1], [2] for elucidation.

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Links for 2014-06-11
James Hamilton | Visiting Professor of Economics, Harvard University,  Professor of Economics, University of California, San Diego