Review

Inequality in the long run

Science  23 May 2014:
Vol. 344, Issue 6186, pp. 838-843
DOI: 10.1126/science.1251936

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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.

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