Friday, March 20, 2015

A rebuttal to Piketty's "Capital in the 21st Century"

No, not by me.  This is apparently a coherent and clearly reasoned work, not the drunken late night crayon scrawlings found here on Kurulounge.

Rognlie, however, wrote in his blog post that the French economist's argument “misses a subtle but absolutely crucial point." Piketty, he said, might have got the pattern in reverse. Instead of the returns to capital increasing in perpetuity, Rognlie said, they might be poised to decline.
With that quick post, Rognlie was challenging the most politically earthshaking prediction about inequality and the economy in recent memory.
The comment blossomed into a near-unprecedented career opportunity for a student who just recently turned 26 years old, and who remains a year away from earning his doctoral degree. It will culminate on Friday morning at the Brookings Institution in Washington, where Rognlie will present a research paper before an often-cutthroat audience of all-star economists, including a Nobel Prize winner, Robert Solow, who will critique Rognlie’s analysis.


 OK, I found it interesting because I have Picketty in the bathroom to work through over the next 6 to 7 years, but the other interesting thing is how the opportunity for Rognile exploded from that blog post.

Of course he has real readers not just the voices in his head.
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