Piketty’s Errors Mirror Marx’s, Paper Finds
There’s more criticism over Thomas Piketty’s best-selling “Capital in the Twenty-First Century,” this time from Daron Acemoglu and James Robinson, two well-known economics professors.Their claim? Mr. Piketty, a professor at the Paris School of Economics , made similar mistakes to Karl Marx in his search for a grand theory to explain inequality and predict the future.
Mr. Piketty argues wealth concentration in the U.S. and elsewhere is too high and likely to rise. His work, which came out in English translation in March, puts forward higher redistributive taxes as a solution.
The book has been lauded by many economists as one of the most important new studies in years. But there’s also been a steady drumbeat of criticism.
Some of the early backlash against the work was unsurprising. Those who champion free markets revolted at his call for income taxes of up to 80%. The Financial Times took a shot at the accuracy of Mr. Piketty’s wealth data, claiming it overstated inequality.
Others said Mr. Piketty puts too much focus on the richest 1% and not enough on how to improve the condition of the poorest in society.
The latest criticism by Mr. Acemoglu of the Massachusetts Institute of Technology and Mr. Robinson of Harvard takes a new tack.
Mais
Nenhum comentário:
Postar um comentário