{"id":17191,"date":"2014-05-24T09:09:24","date_gmt":"2014-05-24T13:09:24","guid":{"rendered":"http:\/\/ssgreenberg.name\/PoliticsBlog\/?p=17191"},"modified":"2014-05-24T09:09:24","modified_gmt":"2014-05-24T13:09:24","slug":"financial-times-finds-many-errors-in-piketty-analysis-argues-they-undermine-his-thesis","status":"publish","type":"post","link":"https:\/\/ssgreenberg.name\/PoliticsBlog\/2014\/05\/24\/financial-times-finds-many-errors-in-piketty-analysis-argues-they-undermine-his-thesis\/","title":{"rendered":"Financial Times Finds \u201cMany\u201d Errors in Piketty Analysis, Argues They Undermine His Thesis"},"content":{"rendered":"

Naked Capitalism<\/em> has the post Financial Times Finds \u201cMany\u201d Errors in Piketty Analysis, Argues They Undermine His Thesis<\/a> by Yves Smith.<\/p>\n

The Financial Times story<\/a> had more of a \u201cgotcha\u201d tone that one expects to see in the mainstream media, and compared the mistakes to the famous spreadsheet errors in Carmen Reinhart\u2019s and Kenneth Rogoff\u2019s work on debt to GDP ratios. But at least so far, there is a key difference: only one other study had found results similar to the those claimed by Reinhart and Rogoff. By contrast, Piketty is far from alone in finding rising concentrations of wealth at the very top; Demos points out<\/a> that a new study published by Garbriel Zucman and Emmanuel Saez paints a post-war picture similar to Piketty\u2019s. Thus the FT\u2019s assertion that their corrections of Piketty\u2019s data show no increase in wealth concentration is an awfully bold claim, and will likely be scrutinized as much as the errors and possible methodological shortcomings that Giles found.
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\nWith Piketty\u2019s book having gotten so much attention over the last few weeks, it\u2019s a given that there will be a lot of eyes on the Giles findings and considerable debate over how much of an impact they have on Piketty\u2019s conclusions. So hold tight and see how this shakes out.<\/p><\/blockquote>\n

<\/pre>\n
While Naked Capitalism<\/em> has its own reasons for disagreeing with some of Piketty’s conclusions, they at least have the humility to admit that the final answer is not in yet.\u00a0 As I was reading about the claims made by The Financial Times story<\/a>, I was wondering how The Financial Times<\/em> could conclude that there was no evidence of increasing concentrations of wealth at the top 1%.\u00a0 I was happy to see that Yves Smith made note of this hard to believe conclusion.<\/p>\n","protected":false},"excerpt":{"rendered":"
Naked Capitalism has the post Financial Times Finds \u201cMany\u201d Errors in Piketty Analysis, Argues They Undermine His Thesis by Yves Smith. The Financial Times story had more of a \u201cgotcha\u201d tone that one expects to see in the mainstream media, and compared the mistakes to the famous spreadsheet errors in Carmen Reinhart\u2019s and Kenneth Rogoff\u2019s […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[166],"tags":[],"class_list":{"0":"post-17191","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-stevegsposts","7":"czr-hentry"},"_links":{"self":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/17191","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/comments?post=17191"}],"version-history":[{"count":1,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/17191\/revisions"}],"predecessor-version":[{"id":17192,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/17191\/revisions\/17192"}],"wp:attachment":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/media?parent=17191"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/categories?post=17191"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/tags?post=17191"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}