Nation May 23 The critique of Piketty and his reply Former Harvard president Larry Summers admires the research of "rock star" French economist Thomas Piketty, but he's been skeptical that innovation and entrepreneurship don't have more to do with the high rate of return on capital. Innovation is great, Piketty…
Nation May 14 Piketty on the U.S.: The birthplace of freedom and progressive taxation French economist Thomas Piketty acknowledges that every society needs some degree of inequality. But when the bottom 50 percent of America owns only 2 percent of the wealth, we've strayed too far from America's legacy of progressive taxation and are…
Nation May 13 How Piketty’s inequality theory explains Mr. Darcy’s wealth French economist Thomas Piketty has made a splash with his prediction that inequality will grow in America. But the economic relationship that explains that inequality is hardly new; it's the same phenomenon that allowed Pemberley Mansion to enrich Mr. Darcy…
Nation May 12 Inequality will worsen in America unless… Piketty’s Rx The author of today's best-selling book about economics predicts that inequality is bound to get worse. His advocacy for an international tax on capital is well-known by now, but what else does he think can stem the tide of wealth…