by Dan Mitchell | Apr 29, 2014 | Blogs, Economics
There’s a new book by French economist Thomas Piketty, called “Capital in the Twenty-First Century,” that supposedly identifies the Achilles’ Heel of the market economy. Piketty argues that the rate of return to capital is higher than the economy-wide growth rate and...
by Brian Garst | Apr 25, 2014 | Blogs, Economic Growth, Economics, Taxation
Thomas Picketty has received a lot of attention for his attack on capitalism. His new book Capital in the Twenty-first Century has breathed new life into old Marxist critiques of capitalism, and been elevated to the status of very important book by the designated...
by Dan Mitchell | Mar 18, 2014 | Blogs, Economics
The political left obviously hopes that it can score political points by pitching some Americans against others with a campaign based on income inequality and class warfare taxation. Is there any merit to this approach? Are the less fortunate suffering because some...
by Dan Mitchell | Jan 26, 2014 | Big Government, Blogs
If you want to know why the left is wrong about income inequality, you need to watch this Margaret Thatcher video. In just a few minutes, the “Iron Lady” explains how some – perhaps most – statists would be willing to reduce income for the poor if they could impose...
by Dan Mitchell | Jan 21, 2014 | Big Government, Blogs, Economics
A bunch of well-connected rich people and government officials are descending upon Switzerland for the annual World Economic Forum meeting in Davos. This upsets many people, and perhaps with some justification. After all, bad things often happen when big business and...
