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Comment: Lance Taylor on Thomas Piketty’s World as Seen Through the Eyes of Maynard Keynes and Luigi Pasinetti

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  • G. C. Harcourt

Abstract

This comment discusses Taylor’s critique of Piketty’s model and his extension to bring in insights from Keynes and Pasinetti. In addition, the comment contains criticisms of the meanings of Piketty’s statistical findings, which are based on accounting measures, of Piketty’s failure to understand the significance of the Cambridge Capital Theory Controversies critique for Piketty’s use of the aggregate production function; and an extension to bring in further insights from Keynes and from Marx in order to understand recent historical episodes in modern capitalism.

Suggested Citation

  • G. C. Harcourt, 2014. "Comment: Lance Taylor on Thomas Piketty’s World as Seen Through the Eyes of Maynard Keynes and Luigi Pasinetti," International Journal of Political Economy, Taylor & Francis Journals, vol. 43(3), pages 18-25, July.
    • Handle: RePEc:mes:ijpoec:v:43:y:2014:i:3:p:18-25
    DOI: 10.1080/08911916.2015.1001668
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    References listed on IDEAS

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    1. Ng, Yew-Kwang, 2015. "Is an increasing capital share under capitalism inevitable?," European Journal of Political Economy, Elsevier, vol. 38(C), pages 82-86.
    2. Vasilev, Aleksandar & Maksumov, Rashid, 2010. "Critical analysis of Chapter 23 of Keynes’s Notes on Mercantilism in The General Theory of Employment, Interest and Money (1936)," EconStor Research Reports 155318, ZBW - Leibniz Information Centre for Economics.
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    Cited by:

    1. Garbellini, Nadia, 2020. "Measurement without theory, and theory without measurement: What's wrong with Piketty's capital in the XXI century?," Structural Change and Economic Dynamics, Elsevier, vol. 52(C), pages 50-62.
    2. Mauricio De Rosa, 2022. "On Capital: an essay on inequality, capital and value theory," Documentos de Trabajo (working papers) 22-08, Instituto de Economía - IECON.

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