How Piketty Manufactured Rising Inequality in 6 Easy Steps

Is US wealth inequality really increasing?
by DANIEL BIER
The Freeman
Apr. 10, 2015

Historian Phillip W. Magness is one of Thomas Piketty's most devastating critics. In his Freeman article "Picking Piketty Apart" (based on his research with fellow Freeman contributor Robert P. Murphy), Magness thoroughly refutes many of Piketty's core claims about the history of inequality in the United States.

His biggest criticism of the French economist's bestselling book, Capital in the 21st Century, is that Piketty cherry-picked his data to show rising US wealth inequality, creating the alleged "U-shaped" trend in inequality over the last 100 years.

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