I have written about Piketty's letter to the Financial Times about the mistakes in his book. Now Piketty has gone from not answering the Financial Times' questions to name calling. You know that Piketty is in a lot of trouble. From The Guardian:
In an interview with the Agence France-Presse news agency, the economist said: "The FT is being ridiculous because all of its contemporaries recognise that the biggest fortunes have grown faster."As to Piketty's claim that the FT is being dishonest about the impact that these have on his numbers, all one has to do is look at the figures and how they flatten out the claimed inequality for the Britain, Europe, and the top 1% of Americans.
While the available data was imperfect, it did not undermine his central argument about widening inequality, he said. "Where the Financial Times is being dishonest is to suggest that this changes things in the conclusions I make, when in fact it changes nothing. More recent studies only support my conclusions, by using different sources." . . .
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