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.
Piketty’s work on inequality has attracted a lot of attention, leading to both criticism and praise. On one hand, the book was received with enthusiasm, and there quite a few causes for this reception. Probably, the main cause for the success of this work comes from the growing inequality in United States. On top of this, there has a significant increase in the perception of inequality by the general public, policy makers and academics (see the debate on the top 1%, which might as well be a discussion on the top 0.01%).