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A profoundly misguided and tedious bit of social misdirection was unleashed last Friday when FT (Financial Times) reporter Chris Giles published an ‘expose’ of alleged errors in Thomas Piketty’s research for his book Capital in the Twenty-First Century. Mr. Piketty made his research available to the public to be examined and there is no issue taken here with Mr. Giles or anyone else looking through it to any extent they care to and pointing out perceived errors. However, to the apparent legions of uninitiated, Thomas Piketty was decades late in reporting growing wealth concentration amongst the already wealthy. Regardless of whether there were errors in his research a copious amount of other research showing essentially the same tendencies he identified is available to anyone who cares to look. In fact, a lot of the griping from the economic left, such as it is, was that it took Mr. Piketty putting his research into the wholly improbable frame of mainstream economics before ‘income inequality’ went mainstream as a political issue.
full: http://www.counterpunch.org/2014/05/27/off-with-their-heads-thomas-picketty-edition/
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