The Tragedy of Thomas Piketty

The latest Pikettian response to Giles's and Giugliano's assertions regarding the quality of Piketty's data and research¬†is to accuse Giles and Giugliano of being "dishonest."¬†(Hat tip in comments here.) I suppose this means that Piketty's is employing a classic I-am-rubber-and-you-are-glue-whatever-you-say-bounces-off-me-and-sticks-back-to-you defense, but there is little substance to the accusation; at best, Piketty can assert (without …

What the Piketty Errors Mean

Remember the Reinhart/Rogoff spreadsheet error? In the event that you do not, here is a summary. Those who follow debates between economists will recall that the spreadsheet error led to all kinds of excorations of Reinhart and Rogoff on the part of liberal economists, who claimed that Reinhart and Rogoff were responsible for austerity policies …

What Paul Krugman Gets Wrong

Let us make a little list: Tyler Cowen points out that when it comes to discussing Milton Friedman's analysis of the Great Depression, Paul Krugman gets things wrong. Both Tyler Cowen and Donald Boudreaux point out that Krugman gets Hayek wrong. Raghuram Rajan points out that Krugman gets Carmen Reinhart and Kenneth Rogoff wrong, though I am not …