economics

140 posts
Two commendable student projects, showing different standards of beauty

A few weeks ago, I did a guest lecture for Ray Vella's dataviz class at NYU, and discussed a particularly hairy dataset that he assigns to students. I'm happy to see the work of the students, and there are two pieces in particular that show promise. The following dot plot by Christina Barretto shows the disparities between the richest and poorest nations increasing between 2000 and 2015. The underlying dataset...

0 0
Come si dice donut in italiano

One of my Italian readers sent me the following "horror chart". (Last I checked, it's not Halloween.) I mean, people are selling these rainbow sunglasses. The dataset behind the chart is the market share of steel production by country in 1992 and in 2014. The presumed story is how steel production has shifted from country to country over those 22 years. Before anything else, readers must decipher the colors. This...

0 0
Losses trickle down while gains trickle up

In a rich dataset, it's hard to convey all the interesting insights on a single chart. Following up on the previous post, I looked further at the wealth distribution dataset. In the previous post, I showed this chart, which indicated that the relative wealth of the super-rich (top 1%) rose dramatically around 2011. As a couple of commenters noticed, that's relative wealth. I indiced everything to the Bottom 50%. In...

0 0
Finding the hidden information behind nice-looking charts

This chart from Business Insider caught my attention recently. (link) There are various things they did which I like. The use of color to draw a distinction between the top 3 lines and the line at the bottom - which tells the story that the bottom 50% has been left far behind. Lines being labelled directly is another nice touch. I usually like legends that sit atop the chart; in...

0 0
This holiday retailers hope it will snow dollars

According to the Conference Board, the pandemic will not deter U.S. consumers from emptying their wallets this holiday season. Here's a chart that shows their expectation (link):   A few little things make this chart work: The "More" category is placed on the left, as English-speaking countries tend to be read Left-to-Right, and it is also given the deepest green, drawing our attention. Only the "More" segments have data labels....

0 0
Locating the political center

I mentioned the September special edition of Bloomberg Businessweek on the election in this prior post. Today, I'm featuring another data visualization from the magazine. *** Here are the rightmost two charts. Time runs from top to bottom, spanning four decades. Each chart covers a political issue. These two charts concern abortion and marijuana. The marijuana question (far right) has only two answers, legalize or don't legalize. The underlying data...

0 0
When the pie chart is more complex than the data

The trading house, Charles Schwab, included the following graphic in a recent article: This graphic is more complicated than the story that it illustrates. The author describes a simple scenario in which an investor divides his investments into stocks, bonds and cash. After a stock crash, the value of the portfolio declines. The graphic is a 3-D pie chart, in which the data are encoded twice, first in the areas...

0 0
Visualizing black unemployment in the U.S.

In a prior post, I explained how the aggregate unemployment rate paints a misleading picture of the employment situation in the United States. Even though the U3 unemployment rate in 2019 has returned to the lowest level we have seen in decades, the aggregate statistic hides some concerning trends. There is an alarming rise in the proportion of people considered "not in labor force" by the Bureau of Labor Statistics...

0 0
Designs of two variables: map, dot plot, line chart, table

The New York Times found evidence that the richest segments of New Yorkers, presumably those with second or multiple homes, have exited the Big Apple during the early months of the pandemic. The article (link) is amply assisted by a variety of data graphics. The first few charts represent different attempts to express the headline message. Their appearance in the same article allows us to assess the relative merits of...

0 0
Consumption patterns during the pandemic

The impact of Covid-19 on the economy is sharp and sudden, which makes for some dramatic data visualization. I enjoy reading the set of charts showing consumer spending in different categories in the U.S., courtesy of Visual Capitalist. The designer did a nice job cleaning up the data and building a sequential story line. The spending are grouped by categories such as restaurants and travel, and then sub-categories such as...

0 0