TY - JOUR AU - Pressman, Steven PY - 2016/12/22 Y2 - 2024/03/29 TI - The mismeasure of Capital: A response to McCloskey JF - Erasmus Journal for Philosophy and Economics JA - EJPE VL - 9 IS - 2 SE - Articles DO - 10.23941/ejpe.v9i2.233 UR - https://ejpe.org/journal/article/view/233 SP - 145-166 AB - <p>This paper is a response to Deirdre McCloskey's review essay, published recently in this journal, of Thomas Piketty's <em>Capital in the twenty-first century</em>. It argues that McCloskey has set up a number of straw men to attack. Furthermore, her three main arguments against Piketty are flawed. McCloskey wants human capital to be added to Piketty's measure of wealth; she contends that Piketty does not understand the supply-response mechanism; and she accuses Piketty of focusing on the wrong problem—inequality rather than poverty. This paper explains why these are all bad arguments.</p> ER -