Piketty

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Potpourri

==> BusinessWeek explains why the 1% (annualized) drop in GDP in the first quarter is good news for the economy. Hint: it involves inventories. Oh boy. ==> Be careful, this article says the government is reporting that “food price inflation” is running at a 22% annual rate, YTD. But no, if you click the link […]

The Entire Inequality Debate Summed Up In One Chart

I missed this on my first look, but the most widely cited PowerPoint presentation of all-time–namely Saez-Zucman (2014)–has a chart that explicitly contrasts Saez’s latest findings with his 2004 paper (co-authored with Kopczuk). Here’s the slide: We see the same pattern as I pointed out earlier, where the Saez (2004) and (2014) estimates move in […]

BTW, That New and Allegedly Definitive Saez-Zucman Result IS A POWERPOINT SHOW

Phil Magness tipped me off to this with his innocent Facebook query, wherein he politely asked: Can anyone find an actual paper that explains how Saez-Zucman (2014) gets their results, which–we are assured by Piketty and by Krugman, plus a host of lesser fans–demonstrate quite definitively that Piketty gets the basic story right in his […]