Thomas Piketty's Capital in the 21st Century was hailed by fashionable opinion upon its release. But it turns out that the author massaged his data, pulled numbers out of thin air, and rewrote history to conform to his biases. We look closely at Piketty's methods in today's episode. Scroll down for show notes and mp3!

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Thomas Piketty’s Capital in the 21st Century was supposed to be the definitive condemnation of capitalism as an anti-social engine of inequality, but the closer his work is examined, the more unreliable it turns out to be. Phil Magness tells the truth in today’s episode!

About the Guest

Phil Magness is academic program director at the Institute for Humane Studies at George Mason University, and he also teaches at the University’s School of Public Policy.

Guest’s Website

PhilMagness.com

Guest’s Twitter

@PhilWMagness

Paper Discussed

“Challenging the Empirical Contribution of Thomas Piketty’s Capital in the 21st Century,” by Phillip W. Magness and Robert P. Murphy (PDF)

Book by the Guest

Colonization After Emancipation: Lincoln and the Movement for Black Resettlement

Book Discussed

Capital in the 21st Century, by Thomas Piketty

Related Episode

Ep. 159: Piketty’s Problems (Bob Murphy)

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