Sunday, April 13, 2014

Inequality and Wealth


The main idea of this article is to introduce readers to Google Ngrams.


Since Obama mentioned the word inequality in one of his lengthy speeches - every newspaper, columnist and every economist i follow had one or two articles on inequality, wage gaps or measurement of inequality.So i thought why not write one myself.

But i had something different in mind i wanted to use the power of big data along with the algorithm of google so i deployed "Ngram". If you have never used Ngrams then this is the right time for it. Just google Ngrams. Ngram basically searches google books huge database to come up with an line chart that shows how often the word has been used since 1800 to 2008.

The best way to interpret this graph is to observe the use of word inequality and wealth since 1800 in books scanned by google. After the second world war race between inequality and luxury  started  getting interesting and it seems like word inequality has gained momentum since 1980. So it is not just an Obama speech that has caused the rise in study of inequality but it has been popping its ugly head since 2000.

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