On r > g

A few years after “Capital in the Twenty-First Century” exploded on the scene, the University of Chicago surveyed 36 well-known economists, asking if they agreed with Piketty. The results? One yes and 35 no’s. How could a book so celebrated upon publication diminish into obscurity in a few short years? Presumably, it had something to do with …

Three Fundamental Laws of Private Capital Read More »

We are talking about Thomas Piketty’s “Capital in the Twenty-First Century,” including its extraordinary publishing history and its subsequent fade from grace. I reviewed the various problems with Pikkety’s theses as they have been noted in the economics literature, and I also proposed my own view of the book’s central problem: that its author is a naïf. …

The Rich Will Lose Their Money Soon Enough Read More »

Thomas Piketty’s “Capital in the Twenty-First Century” exploded on the scene in mid-2013, but it’s impact faded quickly. I reviewed last week the widely discussed reasons why Piketty’s book fell from grace, but I also proposed a reason of my own: that Piketty is a naïf. A naïf, for this purpose, is a person who knows his narrow subject …

On r > g, Part II Read More »