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Wealth inequality: the one that got away

In: Western Welfare Capitalisms in Good Times and Bad

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Abstract

Wealth inequality is neglected by both governments and social scientists. It might be expected that social democratic regimes would seek to reduce wealth inequality, but in fact none of the four regimes endorses this objective. Our data source for household wealth (defined as assets minus debts) is the Swiss bank, Credit Suisse, which issues annual reports. The reports show that wealth inequality is much greater than income inequality. The social democratic regimes actually have the highest levels of wealth inequality. Inequality is lowest in the Southern European proto-corporatist regimes, primarily due to high rates of homeownership. In all regimes wealth inequality has increased in the 21st century.

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  • ., 2023. "Wealth inequality: the one that got away," Chapters, in: Western Welfare Capitalisms in Good Times and Bad, chapter 6, pages 88-97, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:22334_6
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    File URL: https://www.elgaronline.com/doi/10.4337/9781035312306.00012
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