Thomas Piketty’s Capital in the 21st Century was supposed to be the definitive condemnation of capitalism as an anti-social engine of inequality, but the closer his work is examined, the more unreliable it turns out to be. Phil Magness tells the truth in today’s episode!
About the Guest
Phil Magness is academic program director at the Institute for Humane Studies at George Mason University, and he also teaches at the University’s School of Public Policy.
“Challenging the Empirical Contribution of Thomas Piketty’s Capital in the 21st Century,” by Phillip W. Magness and Robert P. Murphy (PDF)
Book by the Guest
Capital in the 21st Century, by Thomas Piketty
Ep. 159: Piketty’s Problems (Bob Murphy)
Bob Murphy, co-author of the paper discussed in this episode, is joining the faculty at Liberty Classroom this year! Learn from Bob in courses you can listen to on the go, plus live Q&A sessions and more. Twelve courses teaching the history and economics we didn’t learn in school await you already. Join us, using coupon code SHOW (all caps) for a special discount.
If you enjoy the Tom Woods Show, my new book — Real Dissent: A Libertarian Sets Fire to the Index Card of Allowable Opinion — is for you. Check it out! And get a free copy of the audiobook version, with me reading it, at TomWoodsAudio.com.