I've been trying to test economist Piketty's theory that his r>g formula proves that Secret Old Money must be > Famous New Money by looking at who owns yachts, sports teams, backyard golf courses, etc. Not much evidence for Piketty's conviction yet ...https://twitter.com/dpinsen/status/1015673395244142600 …
curious if you've ever seen this: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2543012 … piketty isn't much for empirical work