Daily Archives: May 29, 2014

Emily Cadman

French academic Thomas Piketty has issued a detailed response to criticism by the Financial Times of his work on inequality, saying it is “simply wrong” to suggest he made errors in his data.

The best-selling author of Capital in the Twenty-First Century, which has ignited an international debate on trends in inequality, said “the corrections proposed by the FT to my series (and with which I disagree) are for the most part relatively minor, and do not affect the long run evolutions and my overall analysis”. Read more

How do you measure what prostitutes and drug dealers do for the economy? Britain’s official statisticians have had a go – and decided their inclusion in the UK’s GDP estimates will add about £10bn to the size of the economy in 2009. But how did they get to that number? Read more

 

Drug-dealers and their customers in the UK may be breaking the law, but at least they are making us richer. Illegal activities such as prostitution and drug dealing will add £10bn to the UK economy, the Office of National Statistics said today, as part of an overhaul of how we calculate national gross domestic productRead more