What Piketty is bad in is to describe how the system is created. He uses plenty of data to argue about iron laws which aren't iron laws, but just some historic similarities which do not hold true in different conditions or states of the financial system or the system of political economy.
What Piketty is bad in is to describe how the system is created. He uses plenty of data to argue about iron laws which aren't iron laws, but just some historic similarities which do not hold true in different conditions or states of the financial system or the system of political economy.
Yeah you're right, and I'd also make the same critiques of Marx in a lot of cases.