Thursday, May 15, 2014

Piketty Gets Depants'd after Assuming the Position!

The inimitable Larry Summers whom I sat across from in a small luncheon for ten in Chicago two decades ago, subtlety and discreetly inserts a stiletto in the back of Thomas Piketty's book on capital.

In essence, Summers notes the other-worldly proposals of Piketty for an international tax regime as ridiculous, hiding his sarcasm & irony under a patina of non-technocrat economic reasoning.

And Summers is also understated in pointing out Piketty's unwarranted macroeconomic assumptions that underlie the Frenchman's alluring and eminently impressive research and writing style [he quotes Jane Austen, among others!] Read Summers' article in full to get the flavor of Piketty's ideas and his own brilliance in discrediting the French guru.

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