Last week we discussed Fundamental Law of Private Capital #1 — that private capital is the secret weapon that allows some economies to out-compete others. This week we’ll turn to Fundamental Laws #2 and #3.
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.