Archive for June, 2013

Pie Charts Vs. Bar Charts

June 28, 2013

 

 

Which of these two sets of charts tells a cleaner story? We would say the bar chart. Pie charts are notoriously hard to read and interpret meaning from. Edward Tufte, famed information designer / data scientist, frequently argues against pie charts. What do you think?

–from Business Insider

Nigeria Predicted to Have more People than USA in 2050

June 26, 2013

 

The United States is expected to become the 4th most populous country in the world, behind China, India, and Nigeria, by 2050. In addition, India is predicted to outgrow China.

–from The Economist

Large Increase in American Millionaires

June 20, 2013

Between 2011 and 2012, the number of United States millionaires increased by 370,000, or 12%.

–from statista.com

US Medical Costs Declined for First Time since the 1970’s

June 19, 2013

 

Medical costs have decreased for the first time in nearly forty years, mostly attributed to changes caused by the Affordable Care Act.

–from The Wall Street Journal

Inherited Wealth, Social Mobility, and College

June 19, 2013

 

This chart shows the fascinating pattern of inter-generational wealth and poverty in America. Of those raised in the top income quintile, 40% stay there while 43% of those raised in the bottom stay there. Also, a person raised in the top income quintile who does not go to college has a 2.5x higher change of staying in the top then someone from the bottom 20% who does go to college. Click through for a fascinating look at wealth and the effects of college.

–from mattbruening.com with data from Pew’s Economic Mobility Project

The Future of Jobs

June 14, 2013

MIT Economist Andrew McAfree discusses how the future of work in an age of increasingly intelligent machines will have radical economic and social implications.

–from TED

Bank Deposits at Fed Growing Substantially

June 13, 2013

Since the Federal Reserve began offering interest on its deposits, banks have left ever-increasing amounts of money there, leading to the trillion dollars now present. This enormous sum pays .25% interest. Fearing an interest rate increase, banks have been greatly increasing deposits over the past year.

–from CNN Money

Comparison between the US and China

June 11, 2013

This brilliantly laid-out graph shows some important contrasts between the United States and China. Click through for a great analysis and more graphs.

–from The Guardian

Manufacturing Productivity Eight Times Higher than in 1950

June 10, 2013

Over the past sixty years, manufacturing productivity per worker has grown enormously, increasing over $100,000 2011 dollars per worker. Over this same time period, labor’s share of this immense wealth gain have been comparatively small and shrinking.

–from Carpe Diem

Implicit Marginal Tax Rates and the Working Poor

June 7, 2013

These two charts show the effective tax rates at various income levels. The tax rate is quite low for those near point B, which is the earned income tax credit payments. However, after making more than $20,000, the implicit marginal tax rate goes over 100% because a number of benefits expire at that income threshold. Around $50,000, the tax rate goes down again, but rises again when a family no longer qualifies for the child tax credit. Click through to see data source details and technical notes.

–from Mises.org