Piketty modifica

PIKETTY BACKTRACKS ON HIS INEQUALITY THESIS 

When French economist Thomas Piketty released his immense text arguing that the steady growth of economic inequality is inevitable in capitalism, the thesis and its apparent empirical foundation quickly gained traction with progressives who echoed Piketty’s calls for greater redistributionist taxation.
Other economists have spent a great deal of time combing through the data and have found substantial problems, but now Piketty himself is taking pains to add layers of qualification to his own thesis, reports financier and economist Robert Rosenkranz in an article for the Wall Street Journal.
Rosenkranz, who is also a member of the American Enterprise Institute’s National Council, explains that the centerpiece of Piketty’s book is his r>g equation, which holds that “the return on capital (r) outpaces the growth rate of the economy (g) over time, leading inexorably to the dominance of inherited wealth. Progressives such as Princeton economist Paul Krugman seized on Mr. Piketty’s thesis to justify policies they have long wanted—namely, very high taxes on the wealthy.”
In a forthcoming paper for the American Economic Review, though, Piketty argues that his thesis has been carried too far by its ideological supporters.
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