Thomas Piketty and the Ghost of Joan Robinson

Okay, I really did not want to spend more time arguing about methodology but there seems to be some simple points getting lost in cyberspace. Paul Krugman picks up on the debate between Simon Wren-Lewis and Tom Palley, coming down clearly on the side of the former.

I won't go through the blow by blow, but I do want to deal with the point Paul raises at the end of his post.

"And what’s going on here, I think, is a fairly desperate attempt to claim that the Great Recession and its aftermath som...