[Marxism] Piketty's response to FT.com

michael yates mikedjyates at msn.com
Thu May 29 19:10:37 MDT 2014

Piketty says something pretty funny is his evisceration of the 

Financial Times' writers' efforts to debunk his data on wealth 

inequality. The FT claimed that Piketty's wealth estimates for 

Great Britain greatly overstated the rise in inequality 

over the past few decades. The estimates the FT prefers suggest 

that the wealthiest 10 percent own a mere 44 percent of the wealth, 

while Piketty suggests a share of 71 percent. Piketty says, 

"Also note that a 44% wealth share for the top 10% (and 

a 12.5% wealth share for the top 1%, according to the FT) 

would mean that Britain is currently one the most 

egalitarian countries in history in terms of wealth 

distribution; in particular this would mean that Britain 

is a lot more equal that Sweden, and in fact a lot 

more equal than what Sweden as ever been (including 

in the 1980s). This does not look particularly plausible."  		 	   		  

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