[hkmurakami]

Lawrence Summers' review/criticism of Piketty's tome is worth a read, even for non Summers' fans (in general I mildly disfavor Summers, but I appreciated this piece).

"Piketty’s timing may be impeccable, and his easily understandable but slightly exotic accent perfectly suited to today’s media; but make no mistake, his work richly deserves all the attention it is receiving. This is not to say, however, that all of its conclusions will stand up to scholarly criticism from his fellow economists in the short run or to the test of history in the long run. Nor is it to suggest that his policy recommendations are either realistic or close to complete as a menu for addressing inequality.

...

Books that represent the last word on a topic are important. Books that represent one of the first words are even more important. By focusing attention on what has happened to a fortunate few among us, and by opening up for debate issues around the long-run functioning of our market system, Capital in the Twenty-First Century has made a profoundly important contribution."

http://www.democracyjournal.org/32/the-inequality-puzzle.php...

[001sky]

The focus on the balance sheet and not just the P&L is important. Unless these are incredibly flawed analyses--rather than minor nitpicks--the main contributions seem to be seminal none-the-less.