Thomas Piketty’s Capital in the 21st Century, in 20 minutes (2014) [video]
In the interest of giving the fuller discussion:<p>Picketty&#x27;s book has been out for a while now. It is good economics. It deserves rightful praise, and scrutiny.<p>Acemoglu and Robinson&#x27;s answer[1] is also good economics. Digestible podcast form here [2]. It purports that Picketty&#x27;s &quot;r&gt;g&quot; model is flawed. It also deserves a reading.<p>All of this is part of a larger discussion, which C21 started. r &gt; g doesn&#x27;t seem to explain nearly as much as Picketty presents in the book, but that doesn&#x27;t mean his larger idea is fundamentally invalid, or that he didn&#x27;t introduce something valuable.<p>[1] <a href="http:&#x2F;&#x2F;economics.mit.edu&#x2F;files&#x2F;10422" rel="nofollow">http:&#x2F;&#x2F;economics.mit.edu&#x2F;files&#x2F;10422</a>
[2] <a href="http:&#x2F;&#x2F;www.econtalk.org&#x2F;archives&#x2F;2014&#x2F;11&#x2F;daron_acemoglu.html" rel="nofollow">http:&#x2F;&#x2F;www.econtalk.org&#x2F;archives&#x2F;2014&#x2F;11&#x2F;daron_acemoglu.html</a>