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Naked Capitalism has an article on how popular the book is among economists, and the emergence of "Bastard-Pikettyism".
The mainstream acceptance of the book in economic circles is, in my view, due to the simplicity of the r > g story Piketty weaves into the long run inequality trends he has meticulously pieced together. This story is compatible with many of ridiculously simplistic explanations economists love, such as technology change, education, regulatory intervention in labour markets, and just about anything else. Yes, the mainstream is stuck on these same metaphysical explanations that Henry George made fun of back in the 1870s.
by gk (gk (gk quattro due due sette @gmail.com)) on Thu Apr 24th, 2014 at 04:59:00 AM EST

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