Edward Conard

Top Ten New York Times Bestselling Author

  • “Unintended Consequences provides a provocative interpretation of the causes of the global financial crisis and the policies needed to return to rapid growth. Whether you agree or not, this analysis is well worth reading.” - Nouriel Roubini, New York University; Chairman, Roubini Global Economics
Upside of Inequality Unintended Consequences Oxford
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Edward Conard

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Krusell & Smith

Economists Krusell & Smith find “Piketty’s second law…misleading, and…not fundamental”

Alex Tabarrok reports on a recent paper by Per Krusell and Tony Smith that articulates the problem with Thomas Piketty’s so-called “Second Law of Capitalism” a problem that Larry Summers claims stems from Piketty “misreading the literature by conflating gross and net returns to capital.” Krusell and Smith conclude: “We find Piketty’s second law quite misleading, and certainly not fundamental.” Krusell and Smith reach this conclusion as follows: “The second ... Read More


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