This is getting very embarrassing: After first not responding to the Financial Times' questions, Thomas Piketty now engages in name calling.
In an interview with the Agence France-Presse news agency, the economist said: "The FT is being ridiculous because all of its contemporaries recognise that the biggest fortunes have grown faster."As to Piketty's claim that the FT is being dishonest about the impact that these have on his numbers, all one has to do is look at the figures and how they flatten out the claimed inequality for the Britain, Europe, and the top 1% of Americans.
While the available data was imperfect, it did not undermine his central argument about widening inequality, he said. "Where the Financial Times is being dishonest is to suggest that this changes things in the conclusions I make, when in fact it changes nothing. More recent studies only support my conclusions, by using different sources." . . .