Why Thomas Piketty is Wrong About Inflation and Interest Rates
by Philip Pilkington
I have pointed out on here recently that Thomas Piketty’s views on public sector debt are wholly un-Keynesian. Well, we should also point out that his view of inflation and interest rates are also fairly un-Keynesian. Piketty basically thinks that the reason that governments have been able to run persistent government deficits is due to consistent inflation which erodes the real interest rates governments must pay on their debt.
Source: http://econintersect.com/a/blogs/blog1.php/why-thomas-piketty-is-wrong-1
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