“The lack of theoretical rigor in Piketty’s book is striking. Whereas he is supposed to study the dynamics of income inequality in capitalist societies, he barely analyzes the role of entrepreneurship, and, when he does, he gives absolutely no definition of what it is.” Piketty Is Wrong: Markets Don’t Concentrate Wealth | Mises Daily

The lack of theoretical rigor in Piketty’s book is striking. Whereas he is supposed to study the dynamics of income inequality in capitalist societies, he barely analyzes the role of entrepreneurship, and, when he does, he gives absolutely no definition of what it is. This lack of rigor enables him to lead an ideological battle against the rich that he considers as being “undeserving.” Similarly, whether it is Piketty or Anthony Atkinson, none of these modern egalitarians mentions the role of division of labor in the distribution of wealth.

Source: Piketty Is Wrong: Markets Don’t Concentrate Wealth | Mises Daily

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