Suggested afternoon read

Brad Delong on the upcoming translation of the Piketty book (and the recent presentations about it).  This is interesting stuff, and is very “economic historyesque” in its description.

I’d note that the general idea that we could have significant wealth accumulation leading to “impatient” groups being poorer in the long-run is accepted, and directly taught, in economics.  However, when it is down to a “preference for patience” the normative implications are not quite as clear.

Understanding these heterogeneous “preferences”, what they represent, and what they contribute within the data, is pretty exciting stuff!