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Krugman's review reinforces my sense that the problems with how capital is defined in Pikettey's Capital are greatly overshadowed by what is revealed by his analysis: overall trends in wealth distribution over the last 100+ years and what that implies for society.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Sat Apr 12th, 2014 at 04:56:53 PM EST
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Oh, of course. It is a book well worth reading, and a tremendous effort.

I feel it is the starting point for much thinking, rather than the end point, because of the choices made, but also because he could not realistically study every related issue with the same level of depth. And some do deserve to be studied in detail in the context of the historical perspective that Piketty provides.

Nothing wrong with being a foundation for further thoughts of course. Quite the contrary.

Earth provides enough to satisfy every man's need, but not every man's greed. Gandhi

by Cyrille (cyrillev domain yahoo.fr) on Sat Apr 12th, 2014 at 06:03:17 PM EST
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