April 22, 2014

Quote of the Day

Language about "appropriation" suggests that we live in an endowment economy, as does the claim that post-World War I wealth inequality fell "so low that nearly half the population were able to acquire some measure of wealth" (350). Endogeneity, anyone? -- Ryan Decker
Hat-tip: Blog friend tg in the comments below. The entire piece is a superb and serious answer to Thomas Piketty's new book, "Capital in the 21st Century." Quote of the Day Posted by John Kranz at April 22, 2014 12:17 PM
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