Inequality considered, by the ever optimistic Noah Smith

It would seem that Noah Smith has made his latest substack post free, looking at whether Piketty was right with his prediction of ever increasing inequality (unless some big policy changes were made.)  Noah thinks that recent figures indicating that inequality is decreasing a little, recently, and hopes that this might be a trend that continues and shows the self correcting nature of Western capitalism.

While he does indicate that it is too early to tell how much of a trend this is, I tend to agree with some of the comments following the article that he seems to be placing an awful lot of positive emphasis on a pretty minor blips in the graphs.