Phillip W. Magness

Historian – 19th century United States

A Soviet Devil in the Capitalist Details

| June 10, 2014

The other day I began scrutinizing Thomas Piketty’s data on capital to national income ratios and particularly the twice-published Figure 5.8/12.4. This graph provides an important piece of evidence for Piketty’s theoretical argument in Capital in the 21st Century, and particularly his contention that “a country that saves a lot and grows slowly will over the long run accumulate an enormous stock […]