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Re:Thomas Piketty Responds to Criticism of His Data by econghiy on Thursday May 29, 2014 @03:46PM (#7818197)
Several Asian countries like Singapore and Hong Kong have extremely high inequality rates yet far lower unemployment rates than the US. Where is your proof that inequality causes job losses?
Re:Thomas Piketty Responds to Criticism of His Data by chongli on Thursday May 29, 2014 @03:54PM (#7818241)
I never said inequality causes job losses. On the contrary, job losses cause inequality.
Re:Thomas Piketty Responds to Criticism of His Data by om2 on Thursday May 29, 2014 @04:21PM (#7818392)
Job losses as the mechanism of inequality would very little nothing to do with Piketty's claims, which are about concentration of wealth at the very top due to intrinsic properties of returns on capital. Piketty's theory doesn't involve this either causing or being caused by job losses. So seeing unemployed people and taking it as confirmation of his work would be incorrect.

(In any case if you are correct about direction of causation, then surely we should worry about how to reduce job losses than how to take wealth away from the rich.)

Re:Thomas Piketty Responds to Criticism of His Data by econghiy on Thursday May 29, 2014 @03:58PM (#7818274)
But countries like France and Spain have persistently high unemployment rates yet much lower inequality than countries like Singapore and Hong Kong.

How do you explain that?

Re:Thomas Piketty Responds to Criticism of His Data by EdwardDiego on Thursday May 29, 2014 @04:06PM (#7818313)
Deliberate government policy to prevent inequality.