Capital in the 21st Century: Chapter 12
Data provenance
The data were downloaded as Excel files from: http://piketty.pse.ens.fr/en/capital21c2.
Loading relevant libraries and data
This document depends on the xlsx, reshape2, and ggplot2 packages.
## Make Figure 12.1
fig12.1 <- subset(ts12.3m, variable %in%
c("Number of bilionaires", "Total wealth in $B"))
fig12.1$variable <- as.character(fig12.1$variable)
fig12.1a <- fig12.1[fig12.1$variable == "Number of bilionaires", ]
fig12.1b <- fig12.1[fig12.1$variable == "Total wealth in $B", ]
p <- ggplot(data = fig12.1, mapping = aes(x = Year, y = value))
p <- p + facet_grid(variable~., scale="free")
p <- p + layer(data= fig12.1a, geom = c("line", "point"), stat = "identity")
p <- p + layer(data= fig12.1b, geom = c("line", "point"), stat = "identity")
p + ggtitle("Figure 12.1. The world billionaires according to Forbes, 1987-2013")
## Make Figure 12.2
fig12.2 <- subset(ts12.3m, variable %in%
c("Total wealth in % global private",
"Number of billionaires per 100 mil people"))
fig12.2$variable <- as.character(fig12.2$variable)
fig12.2a <- fig12.2[fig12.2$variable == "Total wealth in % global private", ]
fig12.2b <- fig12.2[fig12.2$variable == "Number of billionaires per 100 mil people", ]
p <- ggplot(data = fig12.2, mapping = aes(x = Year, y = value))
p <- p + facet_grid(variable~., scale="free")
p <- p + layer(data= fig12.2a, geom = c("line", "point"), stat = "identity")
p <- p + layer(data= fig12.2b, geom = c("line", "point"), stat = "identity")
p + ggtitle("Figure 12.2. Billionaires as a fraction of global population and wealth 1987-2013")
## Make Figure 12.3
qplot(Year, value, data=subset(ts12.3m, variable %in%
c("Share of top 1/20 mil", "Share of top 1/100 mil")),
geom=c("line", "point"),
color=variable, xlab = "Year", ylab= "Share in world private wealth") +
xlim(1987,2013) +
theme(legend.position=c(0.2, 0.8),
legend.background = element_rect(fill="transparent")) +
ggtitle("Figure 12.3. The share of top wealth fractiles in world wealth, 1987-2013")
## Make Figure 12.4
qplot(Year, value * 100, data=subset(ts12.4m, variable == "World"),
geom=c("line", "point"),
color=variable, xlab = "Year",
ylab= "Value of private capital (% world income)") +
xlim(1870,2100) +
theme(legend.position=c(0.2, 0.8),
legend.background = element_rect(fill="transparent")) +
ggtitle("Figure 12.4. The world capital/income ratio, 1870-2100")
## Make Figure 12.5
qplot(Year, value * 100, data=subset(ts12.4m, variable != "World"),
geom="ribbon", fill=variable, position="stack",
color=variable, xlab = "Year",
ylab= "Value of private capital (% world income)") +
ggtitle("Figure 12.5. The distribution of world capital, 1870-2100")
## ymax not defined: adjusting position using y instead
## Make Figure 12.6
qplot(Year, value, data=ts12.5m,
geom=c("line", "point"),
color=variable, xlab = "Year",
ylab= "Net foreign assets (% world output)") +
xlim(1985,2008) +
theme(legend.position=c(0.2, 0.8),
legend.background = element_rect(fill="transparent")) +
ggtitle("Figure 12.6. The net foreign asset position of rich countries")
## Warning: Removed 16 rows containing missing values (geom_path).
## Warning: Removed 16 rows containing missing values (geom_point).