"An idiot's guide to inequality"

Mach said:

Quoted from the link:

Ah, but there's a catch—and Krugman, to his credit, spots it. In what Krugman calls "a sort of intellectual sleight of hand," Piketty offers an explanation for the rise of U.S. income inequality that is quite distinct from the purported relationship between r and g. "The main reason there has been a hankering for a book like this is the rise, not just of the one percent, but specifically of the American one percent," Krugman writes. "Yet that rise, it turns out, has happened for reasons that lie beyond the scope of Piketty’s grand thesis."


Profit seeking Frenchman writes book bashing those seeking profit, and gets it wrong.

Click to expand...

he also counted the poor incorrectly . There are no poor in America if you add to their income the income from govt programs designed to alleviate their poverty.

Picketty has become a joke and buffoon.

He says there is inequality but does not:

1) count the $trillions in entitlements that we spend to lessen inequality
2) count how crippling liberal programs like family and school destruction impoverish
the lower class and thus make them inequal
3) count globalization which means our top guys now have billions of customers all over the world so their money comes from the world not just from from America. Apple for example does 2/3 abroad for example.
4) count land and business value which are rapidly inflated by liberal inflation but don't really equal greater wealth
5) consider that capitalism is not a zero sum gain. You cant get wealthier and wealthier unless everyone can keep buying and buying from you