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 >>