Most of the econ blogosphere has so far dismissed the most devastating charge leveled by the FT’s Chris Giles in his critique of Thomas Piketty’s best seller, “Capital In The 21st Century”: that inequality is not in fact getting worse.
But most agreed other issues Giles has highlighted are valid.
So now, everyone is waiting to hear how Piketty himself will respond.
Well, we now know that a response will come soon.
In an email to BI, Piketty called Giles’ report “not really constructive,” but said he was planning on updating his data tables to address some of the issues Giles has highlighted:
I welcome constructive discussion of data (that’s why I put everything on line); but the FT people are not really constructive; although they try to pretend the opposite, the small changes they made to my series (and which I disagree with) do not change anything to the long run evolutions and to my analysis. I will update the book’s technical appendix in the coming days so as to clarify this further.
Let’s see what happens next.
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