Hard Times Do Wonders For Inequality

Megan McArdle, Business and Economics editor at the Atlantic, was attending her tenth B-school reunion at Chicago and ran into econometrics specialist Steven Kaplan who had updated the Thomas Piketty and Emmanuel Saez data on top incomes through 2009.

The numbers show that income inequality fell sharply as the economy declined.

Isn’t that wonderful? Occupy demonstrators can clearly now pack up their tents and drums and go home.

Income inequality is clearly easy to cure. Simply adopt left-wing policies, ruin the economy, and sit back and watch all the boats sink, with the upper boats descending to levels much closer to their neighbors than before.