Economics at your fingertips  

Wealth and inequality over eight centuries of British capitalism

Jakob Madsen ()

Journal of Development Economics, 2019, vol. 138, issue C, 246-260

Abstract: This paper constructs annual data for the wealth-income ratio, W-Y, for the UK over the period 1210–2013. It is found that the W-Y ratio has fluctuated at one-two century frequencies about a constant level of approximately 500% over the past eight centuries. Furthermore, a U-shaped W-Y path is identified over the past two centuries and it is argued that the descending part of the U-shape is driven by the transition from pre-industrial modes of production to industrialization and that the post-1980 upturn in the W-Y ratio represents the transition from the industrial to the post-industrialization era.

Keywords: Wealth-income ratio; Industrialization; Pre-industrialization; Post-industrialization; Inequality (search for similar items in EconPapers)
JEL-codes: E1 E2 O4 P1 (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link:

Access Statistics for this article

Journal of Development Economics is currently edited by M. R. Rosenzweig

More articles in Journal of Development Economics from Elsevier
Bibliographic data for series maintained by Dana Niculescu ().

Page updated 2019-08-20
Handle: RePEc:eee:deveco:v:138:y:2019:i:c:p:246-260