Zucman | Continental Telegraph

Posted on July 1, 2019 by Tim Worstall

Saez And Zucman’s Failure On Wealth Inequality

For aficionados of how the world is going to pot, the plutocrats are just sucking it all up, a correction to the Saez and Zucman estimates on wealth inequality:

Their trend estimate is mainly driven by misassigning fixed income (bonds and saving/checking accounts) to the top of the distribution rather than lower down where it belongshttps://t.co/sp9L35V2Ux https://t.co/4ucwXmQTW7 pic.twitter.com/rLKOinMwWh

— Wojtek Kopczuk (@wwwojtekk) 30 June 2019

It ain’t happening like they say it is.

There is though this interesting additional question:

How do they account for the massive social security and Medicare asset the 99% has vs the income tax liability paid mainly by the top earners.

Posted on February 16, 2019 by Tim Worstall

Economics After Neoliberalism

Dani Rodrik, Gabriel Zucman and Suresh Naidu have a new project out, one to provide us with an economics to replace neoliberalism. That neoliberalism they define as market fundamentalism. Sadly, they’re wrong.

Yes, I know, brave words from a mere journalistic scribbler to leading contemporary economists, at least one of which I’m reasonably certain will end up with a share of a Nobel at some point. And yet still true.

Rodrik introduces it here. The Boston Review piece.…

Posted on April 11, 2018 by Tim Worstall

Thomas Piketty’s Being Entirely Ludicrous About Russian Top Income Shares

This is ludicrous here from Thomas Piketty. No, seriously, this is taking a dump on the very idea of rational economic investigation. Who got what in the Soviet Union was based upon non-monetary transactions. Thus measuring who got what in the form of money isn’t a useful description of inequality.

But, you know, if you want to prove that not-communism is a bad idea because inequality taking that dump’s still politically useful, isn’t it?

The dismantling of the USSR and its productive apparatus led to a fall in standard of living in 1992-1995.