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Arguing about Thomas Piketty’s figures misses his capital value.

This is the second time in a fortnight that Impact Eye has had cause to have a pop at the Financial Times. Last week, it was FTfm’s revelation that impact investing wasn’t only for the wealthy (who knew?).

Now the FT has embroiled itself a second time in social-investment controversy by claiming in a front-page splash that Thomas Piketty’s thesis, contained within his 640-page bestseller Capital in the Twenty-First Century, is flawed because it is based on bogus data.

In some liberal media quarters, this accusation amounts to heresy. Professor Piketty isn’t just a French economist who has become the poster boy for post-capitalists and whatever is left of the Occupy movement, he is the infallible messianic voice in the wilderness, offering us redemption from neo-liberal free markets…

This article originally appeared on Impact Investor. Read more…

George Pitcher

George Pitcher

George Pitcher is a writer and talker, an academic specialising in the purposes of journalism and an Anglican priest. You can read his LSE blog here.

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