Tuesday, May 20, 2014

Two economists debate over Piketty's "Capital"

https://www.youtube.com/watch?v=kBl5V-pQOAw

In this video Heather Boushey of Washington Center for Equitable Growth and Kevin Hassett of American Enterprise Institute debate Piketty's data and conclusions. Boushey thoughtfully agrees with Piketty's conclusions while Hassett can only nitpick on the fact that Piketty's data is based on pretax income. In the debate, Hassett comes off as a pretentious intellectual/technocrat and only Boushey is able to recognize the big picture, that large concentrations of wealth are calcifying into even greater ones and this pattern is likely to continue until drastic action is taken. Furthermore, the fact that Piketty's conclusions actually still hold up after taxes really dulls the blade of Hassett's criticism.

What is your take on Piketty's data and conlclusions in "Capital" so far? Do you agree with Boushey or Hassett? 

1 comment:

  1. Definitely Boushey. I'd like to watch part of this video in class.

    ReplyDelete