Piketty sans honneur

His own socialist country doesn't measure up, so he says take your Legion d'Honneur and shove it;

"I refuse this nomination because I don't think it's up to a government to say who is honourable," Piketty told AFP news agency. "They would do better to focus on reviving growth in France and Europe."
....Once close to France's ruling Socialist party, Piketty has become very critical of Hollande. "There is a degree of improvisation in Francois Hollande's economic policy that is appalling," he told Le Monde daily in June.

Hmmm. Capital in the Twenty-First Century has a major improvisation at its heart. Specifically, that you can compare a price, r, with a growth rate, g,  and draw a big fat conclusion. Which itself has led a number of professional economists to conclude that his book is mostly without merit. For instance;

This logic of Piketty, however, has a little problem: IT IS FALSE! 

.... contrary to the claims of Piketty, the fact that r is greater than g implies neither the rich spend their savings on to their children, nor that wealth grows faster than GDP, or that rich dynasties are increasingly richer, or that social inequalities grow. 

.... logic does not dictate in any way, that "r> g" implies that inherited wealth grows faster than GDP, partly because inherited wealth can be exactly zero in worlds where "r> g"! 

.... The world could have "r> g" and, in turn, be filled with families whose grandparents create fortunes , the grown children and grandchildren destroy them. And contrary to what Piketty says, in that world there would not be more and more rich and powerful dynasties. However, it would be true that "r> g"!