4 ms·

See this article, especially toward the end on his understanding of capital: https://mises.org/daily/6736/Thomas-Piketty-on-Inequality-and-Capital https://mises

• foobarqux 12y ago
  The main criticism there is that the concept of return on capital is meaningless. I think that is fringe view and I don't find it compelling.
  • praxeologist 12y ago
    >I think that is fringe view and I don't find it compelling. That's a vacuous non-argument and appeal to popular opinion. Not compelling as well.
    • foobarqux 12y ago
      Many complex systems, hard to describe on a micro level, have straightforward macro statistics. I think return on capital can be described but such statistics even if individual investments are highly variable. Capturing the return is achieved by having a highly diversified portfolio.