A book written by French economist Thomas Piketty, “Capital in the Twenty-First Century,” has served as an inspiration to progressives calling for wealth redistribution. However, an analysis by the Financial Times found problems with Piketty’s inequality data:
Piketty news story is here http://t.co/lfyMk2DBA7, analysis http://t.co/G2At7c1D71, long blog http://t.co/Mbi3K6ZsrU
— Chris Giles (@ChrisGiles_) May 23, 2014
RT @clive_crook: Not so fast with that Nobel prize for Piketty's data. http://t.co/13KxGv152b
— Chris Giles (@ChrisGiles_) May 23, 2014
The Financial Times found that Piketty’s book uses “cherry-picked” data and contains “a series of errors that skew his findings.”
Piketty boom goes bust. Correcting his data errors disproves his thesis. http://t.co/r2WRHR330K
— Phil Kerpen (@kerpen) May 23, 2014
Thomas Piketty’s exhaustive inequality data turn out to be flawed – http://t.co/37wiBYfys3 http://t.co/Izazj9cdcI via @FT
— Colby Cosh (@colbycosh) May 23, 2014
https://twitter.com/davidgura/status/469907851478302720
HUGE! @ChrisGiles_ finds errors in Piketty's inequality data; "Some numbers appear to be constructed out of thin air" http://t.co/JAd8zzWhKg
— Tim Montgomerie (@montie) May 23, 2014
Piketty's Inequality Data Is Flawed And Some Appears To Be 'Out Of Thin Air' http://t.co/G9AdAilYqX
— Dana Loesch (@DLoesch) May 23, 2014
Progressives such as Elizabeth Warren and Paul Krugman have hailed the “evidence” Piketty presented in his book which they say supports a call to redistribute the wealth of people not named Elizabeth Warren and Paul Krugman.
https://twitter.com/redsteeze/status/469911998671892481
https://twitter.com/EWErickson/status/469920636484468736
https://twitter.com/seanmdav/status/469914029314818048
https://twitter.com/Matthops82/status/469922345834921986
https://twitter.com/mcjwalsh/status/469909606987464704
Anyone shocked to see some people defending Piketty who gleefully implied that any Excel errors undercut entirety of Reinhart-Rogoff work?
— Josh Zumbrun (@JoshZumbrun) May 23, 2014
Does Piketty believe in man-made Global Warming, cuz, uhm…
— The Curve Is Bent. Time to Free Us! (@NolteNC) May 23, 2014
Some are judging without knowing, according to Vox’s Matt Yglesias:
https://twitter.com/mattyglesias/status/460229389826134016
But…
https://twitter.com/EWErickson/status/469921068267102208
It’ll all probably be “Voxsplained” very soon:
Has anyone heard from Ezra Klein since the Piketty implosion? Is he okay? Can he Voxxinate Piketty from the fallout?
— The Curve Is Bent. Time to Free Us! (@NolteNC) May 23, 2014
@NolteNC I'm watching for "How politics made Piketty stupid."
— John Sexton (@verumserum) May 23, 2014
Piketty has responded:
Piketty has responded to some of the claims @FT makes on his book "Capital in the 21st Century". Here's his reply: http://t.co/T1n1zb0vOc
— Ferdinando Giugliano (@FerdiGiugliano) May 23, 2014
Possible explanation for the alleged discrepancies in Piketty’s data?
Must have been using Common Core math. RT @LegInsurrection: Report: Thomas Piketty’s numbers are off http://t.co/rK1RvNgB3t
— Drew McCoy (@_Drew_McCoy_) May 23, 2014
Ha!
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