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IMF economist questions Piketty’s explanations for rising inequality

Capital in the Twenty-First Century the English version of the 2013 French book on inequality written by Thomas Piketty, a professor of economics at the Paris School of Economics, created a sensation when published in the US in 2014, entering The New York Times bestseller list and drawing positive reviews from leading economists. Last week, in an IMF working paper, Carlos Góes writes that while Piketty’s “work is likely to remain influential in the times to come” and is “rich in data, the book provides no formal empirical testing for its theoretical causal chain.”

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