100314inequality
Economics, Pethokoukis, U.S. Economy

This cutesy chart about wealth inequality actually makes the opposite point it intends to

Americans are a lot better off today than they were in 1776 of 1860 or 1929 or 1960, right? I mean, that is kind of an important point. In 1800, per capita GDP — adjusted for inflation — was about $2,000 a year and average life expectancy was 39 year. Today it’s over $42,000 and 79 years. Not only would I rather live in 2014 America than in any of those other time periods, I would rather live in 2014 America than 2013 America. read more >

100114Tcherneva
Pethokoukis, Economics, U.S. Economy

Why the ‘most important chart about the American economy you’ll see this year’ has big problems

Bard College economist Pavlina Tcherneva has cooked up a frightening and much-shared income-inequality chart (see above) — “the most important chart about the American economy you’ll see this year,” according to Vox — that seems to confirm the worst: America has become a winner-take-everything society. read more >