Wealth inequality: the one that got away

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Chapter 6 in Western Welfare Capitalisms in Good Times and Bad, 2023, pp 88-97 from Edward Elgar Publishing

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.

Keywords: Economics and Finance; Sociology and Social Policy; Sustainable Development Goals (search for similar items in EconPapers)
Date: 2023
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