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How is arguing an empirical or theoretical point "off putting"? You say you don't know the paper well enough to criticize it, but I suggest you read the introdu
by ryanmonroe 12y ago
How is arguing an empirical or theoretical point "off putting"? You say you don't know the paper well enough to criticize it, but I suggest you read the introduction. It is not technical at all and I'm not sure how you could come away from reading that fairly straightforward explanation of the paper's intention still thinking that it is "off putting".
The overall message of Piketty's book is that capital's share of income will rise due to the difference between capital returns and growth. It may be true that capital accumulation is and will continue to be driving inequality, and is certainly valuable to know if so, but you can't accept the assumptions on which that argument is based blindly.
This paper is not nitpicking a small point, but arguing against the main message of the book.
- mark_l_watson 12y agoFair points. I only read the introduction to this paper and then spent less than 5 minutes skimming random parts of the paper. I do think that many mainstream economists don't like what Piketty says because of his criticisms of economists who have economic incentives that color their views and my first reaction was that this paper reflected this status quo loving point of view.