Capitalism vs Socialism

Wormtongue’s persistent complaints about inequality of income and/or wealth—you, know, the 1 percent and all that Lefty humbug—is based on such as French socialist economist Thomas Piketty’s book “Capitalism In The 21st Century.”

Comes now a Financial Times review of the book to say that not only did Piketty misinterpret his own data, but he appears to have exaggerated it to make the inequality worse than it really is. Boy, now there’s a surprise.

Meanwhile, while the Worm bashes the folks whose private investments actually create jobs, his prime constituency, black Americans, have the worst employment prospects of all.

Via Instapundit.

UPDATE:  Others also have noticed Piketty’s errors.

One response to “Capitalism vs Socialism

  1. The extreme left that was remaining rudderless for so long, is in desperate need of a new prophet. Now that they found one, don’t expect them to change their minds because of some inconvenient truth.