Saturday, May 24, 2014

Quality and Inequality

Tyler Cowen, looking at the problems of Piketty's rickety data, wrote:

'When evaluating debates of this kind, never ever confuse a) is he right? with b) “how much should we raise/lower the relative status of the author as a result of the new exchange”?'

Now, his "b" is written in a roundabout way. He's saying don't confuse "is he right?" with "is he worthwhile?".

Both questions are worth looking at, I suppose. But it's worrisome when you are interested in the first question - is a horrid inequality about to descend upon us - and all of a sudden the press is shifting to discussions of what a great guy the Inequality Prophet is.

We need new legislation, to fix whatever's wrong!
Nothing to see in this data. Move along.

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