Have you read Thomas Piketty’s Capital in the 21st Century? Even - TopicsExpress



          

Have you read Thomas Piketty’s Capital in the 21st Century? Even if you havent, this article is worth the time, the download, and effort to see what all the so-called Progressives were cooing about last year. This article is from one of my favorite economists, Robert Murphy, and a now favorite historian, Phillip W. Magness. We find evidence of pervasive errors of historical fact, opaque methodological choices, and the cherry-picking of sources to construct favorable patterns from ambiguous data. Additional evidence suggests that Piketty used a highly distortive data assumption from the Soviet Union to accentuate one of his main historical claims about global “capitalism” in the 20th century. Taken together, these problems suggest that Piketty’s highly praised and historically-driven empirical work may actually be the book’s greatest weakness.
Posted on: Wed, 21 Jan 2015 00:27:56 +0000

Trending Topics



Recently Viewed Topics




© 2015