Discussing the views of Piketty on inequality, with an eye towards Henry George

26. Fixed capital includes buildings, infrastructure and land (to Piketty). Equals - total capital in developed countries -- page 48.

27. Claims (falsely) that private wealth is almost all national wealth because debts balance out assets -- page 48.

28. Foreign assets balance out between countries -- page 50

29. Output growth broken into 2 parts population growth, and per person output growth -- page 72. The latter is historically under 2%

30. Piketty believes growth will slow to historic norm of .1%/year due to population slowdown-- page 74. But there is no evidence that rapid population growth necessarily leads to high output growth (e.g. See Malthus), so why should reverse be true?

31. Inheritance is less important when there is strong demographic growth -- page 84. Lower demographic growth means more inequality due to relative higher importance of inherited wealth.

32. No country's growth is >1.5%/year over long periods -- page 93. Does China or India disprove this now that they have exceeded this level for over two decades?

33. Oil must be replaced to maintain growth -- page 95

34. There was strong growth post-WWII because of strong State intervention in the economy until about 1980. But then why doesn't Piketty call for more intervention now, instead of assuming a slowdown in growth is inevitable? -- pages 98-99

35. There was no change in money conversion rates in 19^th century. -- page 105

36. Great levels of debt began after WWI -- page 106

37. High inflation began in 1913 (Federal Reserve Act came slightly before inflation due to WWI) and until 1950 -- page 107

38. 19^th century wealth was in land or bonds -- page 113

39. Piketty admits land is a special form of wealth -- page 114 But still does not treat it separately when discussing capital accumulation.

40. First identification of rent-seeking -- page 116

41. Housing chart on page 116-117 disguises land wealth. Also, agricultural land has been replaced by buildings, business capital, financial capital -- page 118

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