Wealth inequality in Europe and the delusive egalitarianism of Scandinavian countries
AbstractPast sociological inequality research focused on (labor) market outcomes, while neglecting the even more important role of wealth. In our study we investigate the distribution of wealth among the elderly across Europe within the framework of Esping-Andersen’s typology of welfare states. Using SHARE data, our analyses suggest (1) that there is strong variation in the distribution of wealth between European countries, and (2) that patterns of wealth inequality differ strongly from patterns of income inequality. Surprisingly high levels of wealth disparity were found in the social democratic welfare regimes commonly known as very egalitarian societies. We conclude that Esping-Andersen’s scheme requires reconsideration because it is based on a one-sided understanding of social stratiﬁcation not accounting for the central role of wealth in the stratiﬁcation process.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 35307.
Date of creation: Jul 2011
Date of revision:
Inequality; wealth; net worth; income; SHARE; stratiﬁcation; welfare state; Europe;
Find related papers by JEL classification:
- D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-12-19 (All new papers)
- NEP-EEC-2011-12-19 (European Economics)
- NEP-LTV-2011-12-19 (Unemployment, Inequality & Poverty)
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