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Thomas Piketty made some grand assumptions and shouldn't be considered to have all the answers despite what the media would have you think. Your simple analysi
by jamez1 9y ago
Thomas Piketty made some grand assumptions and shouldn't be considered to have all the answers despite what the media would have you think.
Your simple analysis might make the inequality metrics look better but seriously take a step back and think about all the things that are out of whack that could contribute to it.
Who's to say it's not all the debt that has been built up that siphons money from the poor to the rich? Increasing taxes don't make the poor people's lives any better even though it makes you feel good because you get to stick it to the rich.
- brndnmtthws 9y agoThomas Piketty's research is backed by years of irrefutable, hard data. Debt is indeed a tool used by the haves to siphon money from the have nots. All the more reason for wealth redistribution.
- jamez1 9y agoThe general theme that inequality has risen is not in question, his solutions definitely are. His data is not irrefutable, it is pieced together from many different scrappy time series and has put some parts of his analysis in question. https://www.nytimes.com/2014/05/31/upshot/everything-you-need-to-know-about-thomas-piketty-vs-the-financial-times.html?mcubz=0 https://www.nytimes.com/2014/05/31/upshot/everything-you-nee... I also have to wonder where you get the idea that anything in economics is 'hard data', the world is a complex system, it's very rare for a simple answer to work. But a simple answer will sell books and be easy to promote by the media and politicians. That's why we always hear simple answers, not because they work.