Thomas Piketty’s Capital in The Twenty First Century, has spawned a cottage industry of dissent. Piketty uses masses of data to illuminate a growth in inequality, that he surmises is an inevitable result of capitalism and can only be resolved…
Read Morefrom the Wall Street Journal, The Uncounted Trillions in the Inequality Debate by Martin Feldstein: excerpts: These data seem to show a country whose wealth is highly concentrated. But the true picture is hardly as stark as critics of inequality…
Read MoreMartin Feldstein writes The U.S. Underestimates Growth in The Wall Street Journal: Americans are enjoying faster real income growth than the official statistics indicate, but we can achieve even faster growth with more capital accumulation, increased labor-force participation, and greater innovation that…
Read MoreMartin Feldstein writes The U.S. Underestimates Growth in The Wall Street Journal: Government statisticians are supposed to measure price inflation and real growth. Which means that, with millions of new and rapidly changing products and services, they are supposed to…
Read MoreMartin Feldstein writes in The Wall Street Journal, Piketty’s Numbers Don’t Add Up Excerpts: The second problem with Mr. Piketty’s conclusions about increasing inequality is his use of income-tax returns without recognizing the importance of the changes that have occurred in…
Read MoreMartin Feldstein writes in The Wall Street Journal, Piketty’s Numbers Don’t Add Up Excerpts: His conclusion about ever-increasing inequality could be correct if people lived forever. But they don’t. Individuals save during their working years and spend most of their…
Read More
Recent Comments