Dear all,
Piketty's book has been reviewed by no less a person than Galbraith Jnr., here:
http://www.dissentmagazine.org/article/kapital-for-the-twenty-first-century
Jamie G. marks Piketty down for a number of errors, of which the one that resonated most with me was his complaint that Piketty has what my friend Andrew Kliman has dubbed a "physicalist" perspective -- essentially the misconception that capitalist production is at bottom about producing things, whereas what it's actual objective is is the production of capital.
Worse still, Galbraith says, Piketty's attempt to measure physical capital is also incoherent (essentially because any one-dimensional measure must be a financial one).
Naturally various further errors in analysis flow from the above, and culminate in utopian policy prescriptions of a social democratic kind.
Best wishes,
Julian
Dr Julian Wells
Director of Studies
School of Economics
staff web-page: http://fass.kingston.ac.uk/staff/cv.php?staffnum=287
personal web-site: http://staffnet.kingston.ac.uk/~ku32530
Principal lecturer
School of Economics
Faculty of Arts and Social Sciences
Kingston University
Penrhyn Road
Kingston-upon-Thames
KT1 2EE
United Kingdom
+44 (0)20 8417 2341
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