Edward Conard

Top Ten New York Times Bestselling Author

Upside of Inequality Unintended Consequences
  • “Unintended Consequences represents the most cogent and persuasive analysis of the Financial Crisis to date.” - Andrei Shleifer, 1999 John Bates Clark Medal Winner

Brad DeLong disingenuously counters criticism of Piketty’s farfetched “2nd Law”

P.S. Brad DeLong complains Krusell & Smith use an unrealistically high illustrative depreciation rate in their critique of Piketty’s “Second Law.” The rate is irrelevant to Krusell & Smith’s central point–that the mathematics underlying Piketty’s Second Law are farfetched—a point DeLong conspicuously avoids disputing. Krusell & Smith respond.