In a previous blog post, I discussed the data issues in Piketty’s work. While some of the points made regarding the accuracy of the data might be valid, it appears that there are more fundamental issues we should be focusing on.
After the rather successful concept of BRIC economies, Goldman Sachs came in 2005 with another group of potential fast growing economies, the so called Next Eleven or N11. The group of the BRIC economies is quite known (Brazil, Russia, India and China) and the concept has been successfully adopted by politicians, researchers and media. However, this N11 idea has had until now a harder way to be generally adopted.
Some of the most prominent economists believe that inflation is a solution to the economic woes of US and Euro Area, and I particularly mean Krugman and DeLong. But is it so?