Global Wealth Inequality
Bibliographic Data
| ID | 23328332 |
|---|---|
| Authors | Gabriel Zucman (National Bureau of Economic Research, corresponding author) |
| Year | 2019 |
| Volume | 11 |
| Issue | 1 |
| Pages | 109-138 |
| Publication date | 2019-08-02 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | Annual Review of Economics (JOURNAL) |
| Journal identifiers | ISSN: 1941-1383 • E-ISSN: 1941-1391 |
| Publisher | Annual Reviews (PUBLISHER • US) |
| DOI | 10.1146/annurev-economics-080218-025852 |
| OpenAlex | W3123417682 |
| Language | EN |
| Citations received | 76 |
| References cited | 62 |
This article reviews the recent literature on the dynamics of global wealth inequality. I first reconcile available estimates of wealth inequality in the United States. Both surveys and tax data show that wealth inequality has increased dramatically since the 1980s, with a top 1% wealth share of approximately 40% in 2016 versus 25–30% in the 1980s. Second, I discuss the fast-growing literature on wealth inequality across the world. Evidence points toward a rise in global wealth concentration: For China, Europe, and the United States combined, the top 1% wealth share has increased from 28% in 1980 to 33% today, while the bottom 75% share hovered around 10%. Recent studies, however, may underestimate the level and rise of inequality, as financial globalization makes it increasingly hard to measure wealth at the top. I discuss how new data sources (leaks from financial institutions, tax amnesties, and macroeconomic statistics of tax havens) can be leveraged to better capture the wealth of the rich.
Economic inequality · Economics · Globalization · Inequality · Market economy · National wealth · Wealth elasticity of demand · Economic theories and models · Economic Theory and Policy · Finance · Financial Literacy, Pension, Retirement Analysis
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| Unique citing works | 76 |
|---|---|
| Citations per year | 8,44 |
| Citation span | 2017 - 2026 (10) |
| Citation velocity | current |
| Highly cited | No |
| Citation types | Neutral: 71 |