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Wealth and Income Stratification by Social Class in Five European Countries

Author

Listed:
  • Carlos J. Gil-Hernández

    (University of Florence)

  • Pedro Salas-Rojo

    (International Inequalities Institute)

  • Guillem Vidal

    (European Commission
    Generalitat de Catalunya)

  • Davide Villani

    (European Commission)

Abstract

Wealth is a central determinant of life chances and intergenerational status persistence in modern societies. Despite increasing attention, sociologists traditionally overlooked its role in class-based economic disparities, while most economists focused on the elites’ accumulation. This article combines sociological and economic perspectives to test whether big occupational classes, the most standardised and operationalisable approach, depict the wealth distribution. Drawing from the Luxembourg Wealth Study (2002–2018) in five European countries, we explore (1) how wealth is distributed and stratified by big occupational classes over time and cross-nationally and (2) to what extent classes account for aggregate wealth inequality trends compared with income. Unlike bold claims on class 'death' or 'decomposition', inequality of outcomes in wealth accumulation is firmly rooted across big occupational classes in contemporary capitalism, potentially harming social mobility in future generations. Still, occupational classes better capture between-group income inequality and stratification than wealth, emphasising the importance of economic resources beyond labour market attachment. Against the backdrop of previous research and our findings, we discuss the role of wealth in contemporary class analysis.

Suggested Citation

  • Carlos J. Gil-Hernández & Pedro Salas-Rojo & Guillem Vidal & Davide Villani, 2025. "Wealth and Income Stratification by Social Class in Five European Countries," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 178(2), pages 817-841, June.
    • Handle: RePEc:spr:soinre:v:178:y:2025:i:2:d:10.1007_s11205-025-03532-x
    DOI: 10.1007/s11205-025-03532-x
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    Keywords

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    JEL classification:

    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
    • J62 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Job, Occupational and Intergenerational Mobility; Promotion
    • I32 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Measurement and Analysis of Poverty
    • Z13 - Other Special Topics - - Cultural Economics - - - Economic Sociology; Economic Anthropology; Language; Social and Economic Stratification

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