Poverty and income inequality

Guido Alfani, 15 January 2017

Recent research into the share of wealth owned by the richest households has given us important insights into trends in inequality. This column shows how we can now estimate the share of wealth owned by the richest households in Europe, and how many they numbered, from 1300 to the present day. Throughout this time, the only significant declines in inequality were the result of the Black Death and the World Wars.

Thomas Piketty, 07 January 2017

Anthony B. Atkinson passed away on the morning of 1 January 2017 at the age of 72, after a long illness. This column describes how he established a unique place for himself among economists over the past half-decade by putting the question of inequality at the centre of his work while demonstrating that economics is first and foremost a social and moral science, in defiance of prevailing trends. 

Danny Leipziger, 08 December 2016

Despite lifting millions out of poverty, globalisation is facing growing political opposition. This column surveys the successes and failures of globalisation, and some of the critical policy implications. Globalisation has reached a stage where its benefits have been captured but its costs have been largely ignored. Going forward, governments need to address inequality and social inclusion, boost global investment, and restore confidence.

Nora Lustig, 29 November 2016

Why did so many of those who feel left behind vote for a member of the global elite in the US election? This column argues that rather than an increase in income and wealth inequality, it may be a rise in equality for wealthy African-Americans, for women, and for the gay community that is feeding a greater sense of unfairness. If we advocate greater horizontal equality, we must also ensure that it is embraced, or at least tolerated, by all.

Adrian Adermon, Mikael Lindahl, Daniel Waldenström, 27 November 2016

Recent studies on intergenerational income mobility have looked beyond the two-generational model to the role of grandparents, but multigenerational patterns in the wealth distribution have received less attention. This column uses a Swedish four-generational wealth dataset to study the role of family background for people’s wealth status and how much of this that is due to material inheritance. Most of the transmission in wealth status between generations comes from parents in the form of bequests and gifts, with only a marginal contribution from grandparents. 

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