Tag: Thomas Piketty
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Measuring Inequality: On Using Snapshots When Only Video Will Do
When it comes to understanding inequality, the debate is frequently burdened with many misunderstandings about data. When talking about wealth inequality, we see statements like "85 people own more wealth than the bottom half of humanity." Wealth is routinely misunderstood to mean money and things someone owns. It isn't. Wealth is someone's total assets minus…
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Deirdre McCloskey vs Thomas Piketty – a clash of the inequality titans
The Spectator: Deirdre McCloskey vs Thomas Piketty – a clash of the inequality titans Well, I think I might have met his match. She's called Deirdre McCloskey. … … McCloskey on the other hand, who is meant to be the conservative one, has the zeal of a revolutionary. She describes herself as an ex-Marxist, Christian…
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Consumption Inequality Versus Income Inequality
Income inequality is a big topic these days, but some argue that income inequality data doesn't tell the whole picture. Income data typically uses pre-tax and pre-transfer income (meaning people at the top have less than it appears because of the taxes they pay, and the people at the bottom have more because of the…