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Top Income Concentration in Early Modern Spain, 1574-1799

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  • Álvarez Nogal, Carlos
  • Prados de la Escosura, Leandro

Abstract

Contemporary perspectives highlight significant inequality in early modern Spain.Quantitative measures of inequality are often either broad and rough or based on local orscattered estimates, which do not offer a precise overall picture over time. The sale of theBull of the Crusade provides an opportunity to examine inequality trends consistently inearly modern Spain. The Bull of the Crusade was a form of almsgiving granted by the Popeand collected by the Hispanic Monarchy, widely purchased by a population convinced of itsspiritual benefits. There were two types of bulls: the standard 2 Reales bull for ordinarypeople and the 8 Reales bull for the wealthy and individuals of high social standing. Weargue that the ratio of the 8 Reales to the 2 Reales bulls sold reflects concentration at theupper end of the distribution. Three main phases emerge: fluctuations around a flat trendfrom 1570-1630, a sustained decline in the following century, and a notable upward trendthereafter, reaching its peak in the late eighteenth century. A closer study reveals distinctpatterns within the Crown of Castile and the Crown of Aragon that converged in the lateeighteenth century.

Suggested Citation

  • Álvarez Nogal, Carlos & Prados de la Escosura, Leandro, 2025. "Top Income Concentration in Early Modern Spain, 1574-1799," IFCS - Working Papers in Economic History.WH 48551, Universidad Carlos III de Madrid. Instituto Figuerola.
    • Handle: RePEc:cte:whrepe:48551
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    References listed on IDEAS

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    1. Esteban A. Nicolini & Fernando Ramos Palencia, 2016. "Decomposing income inequality in a backward pre-industrial economy: Old Castile (Spain) in the middle of the eighteenth century," Economic History Review, Economic History Society, vol. 69(3), pages 747-772, August.
    2. Anthony B. Atkinson & Thomas Piketty & Emmanuel Saez, 2011. "Top Incomes in the Long Run of History," Journal of Economic Literature, American Economic Association, vol. 49(1), pages 3-71, March.
    3. Adam Cohen, 2002. "The Importance of Spirituality in Well-Being for Jews and Christians," Journal of Happiness Studies, Springer, vol. 3(3), pages 287-310, September.
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    Keywords

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    JEL classification:

    • N33 - Economic History - - Labor and Consumers, Demography, Education, Health, Welfare, Income, Wealth, Religion, and Philanthropy - - - Europe: Pre-1913
    • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration
    • Z12 - Other Special Topics - - Cultural Economics - - - Religion

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