The market for $1.8-million sports cars is booming. Thomas Piketty could have predicted that.
The superstar French economist rocketed to fame on the popularity of his new book, Capital in the Twenty-First Century, which asserts that capitalism has an inherent tendency toward inequality. His thesis instantly elicited howls of outrage from right-wing reviewers, who disliked his take on the free market’s supposed tendency to enrich plutocrats. The Wall Street Journal dismissed Prof. Piketty as a “utopian visionary.” According to Barron’s, he’s simply wrong – a pedlar of “unpersuasive theories.”