Economía marxista para el Siglo XXI


Michael Roberts Blog

Economics super star of the day, Thomas Piketty has been taken to task about his empirical data and his method of compiling it for his best seller, Capital in the 21st century.  FT economics editor Chris Giles noted that Piketty’s measurement of the inequality of wealth in the UK as provided by the official statistical office did not match that of Piketty’s (http://blogs.ft.com/money-supply/2014/05/23/data-problems-with-capital-in-the-21st-century/).

So Giles went through the wealth of data used by Piketty to reach his conclusion about the rising inequality of wealth and income in the major capitalist economies. Giles found that Piketty had made a simple mistake in transcribing some of his data on Sweden.  He also noted that, in filling in gaps with the raw data on France and the UK, Piketty made ‘arbitrary’ changes in the assumptions for his estimated data without explanation.  And when constructing the time series for the average wealth…

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