Paul Krugman writes:
They're Baaack!: The one percent, that is. Emmanuel Saez has updated his distributional estimates (pdf), and as expected the top 1% share, which fell in the crisis, has resumed its upward march. How many people wrote stories about how rising inequality was a thing of the past, when anyone who had looked at the data at all knew about the cyclical issue?
I remember Greg Mankiw claiming back in the mid-2000s that the cyclical fall in inequality in the early 2000s reflected a shift in the structural trend, and Megan McArdle making the same claim much more recently--but I forget where I saw it…
Anybody else whom Paul is thinking of?