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Inequality in the long run

Author

Listed:
  • Thomas Piketty

    (PSE - Paris School of Economics, PSE - Paris-Jourdan Sciences Economiques - ENS Paris - École normale supérieure - Paris - INRA - Institut National de la Recherche Agronomique - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique)

  • Emmanuel Saez

    (LBNL - Lawrence Berkeley National Laboratory [Berkeley])

Abstract

This Review presents basic facts regarding the long-run evolution of income and wealth inequality in Europe and the United States. Income and wealth inequality was very high a century ago, particularly in Europe, but dropped dramatically in the first half of the 20th century. Income inequality has surged back in the United States since the 1970s so that the United States is much more unequal than Europe today. We discuss possible interpretations and lessons for the future.

Suggested Citation

  • Thomas Piketty & Emmanuel Saez, 2014. "Inequality in the long run," PSE - Labex "OSE-Ouvrir la Science Economique" halshs-01053609, HAL.
  • Handle: RePEc:hal:pseose:halshs-01053609
    Note: View the original document on HAL open archive server: https://halshs.archives-ouvertes.fr/halshs-01053609
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    Keywords

    Wealth inequality; Europe; United States;

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