Recently, reading an article by Megan McArdle about income inequality, she speculated about the idea that the share of income of the 1% gets worse during a recession. She posted a graph:
Income share of the top 1% in the US from 1913
I wasn't a fan of the graph. The ticks distracted from the data being presented, and recessions were not highlighted on the graph, as they are on graphs from places like FRED. Fortunately the data from the graph is available and we can make a run of it using R and ggplot. Read the rest of this entry »