Financial Times Points To Thomas Piketty Statistical Flaws

Thomas Piketty’s book, ”Capital in the Twenty-First Century,” has drawn fire in conservative circles for its egalitarian conclusions in regards to income inequality.  For the first time, however, the core statistical modeling is being questioned by UK’s Financial Times. Financial Times journalist Chris Giles says that Thomas Piketty’s work, which touched off a firestorm of debate, “contains a series of errors that skew his findings. The FT found mistakes and unexplained entries in his spreadsheets, similar to those which last year undermined the work on public debt and growth of Carmen Reinhart and Kenneth Rogoff.” Little evidence to support Thomas Piketty’s claims,…