Everything That Counts

Thomas Piketty’s Capitalism in the 21st Century has been subjected to considerable commentary, critical and supportive, and is packed with historical data about the history of inequality.  One may wonder if the considerable data in such a project is selected to support a preordained conclusion, especially when the conclusions and prescriptions fall so clearly in line with a distinct ideology.  But it is also worth wondering how relevant the subject is to most of us. Inequality and wealth are not easily defined and are often described more from what is measurable than how people may perceive them.  It is like the man who is crawling on the ground looking for his keys under a street lamp.  He says he saw the keys last over two blocks away, but he is looking here because the light is better.  Is inequality important?  Is it more important than social mobility?  Is it more important than the standard of living for all classes? Some of the...(Read Full Article)