Friday, 13 July 2018

The Preconditions of Socialism: a Critical Review (x)

“Das ist nicht nur nicht richtig; es ist nicht einmal falsch!” Wolfgang Pauli.

In the last two posts in this series we’ve introduced Thomas Piketty’s “capital” inequality data. As is well-known, Piketty and co-workers derive their findings largely from tax return data. Bernstein employed similar data.

Piketty’s results seem to corroborate Marxist views on distribution of wealth. Bernstein’s, however, contradict them. Someone has got to be wrong. It’s time to scrutinise Bernstein’s empirical argument.

Monday, 9 July 2018

No Post Last Week.

No post last Saturday (AEST), since I've been a little unwell. I should be able to resume my critical review of Preconditions next Saturday.