Global Distributions of Capital and Labor Incomes: Capitalization of the Global Middle Class

Marco Ranaldi

No 3g59r, SocArXiv from Center for Open Science

Abstract: This article studies global distributions of capital and labor income among individuals in 2000 and 2016. By constructing a novel database covering approximately the 80% of the global output and the 60% of the world population, two major findings stand out. First, the world underwent a spectacular process of capitalization. The share of world individuals with positive capital income rose from 20% to 32%. Second, the global middle class benefited the most, in relative terms, from such capitalization process. In China, the average growth rate of capital income was 20 times higher than in western economies. The global composition of capital and labor income is, therefore, more equal today than it was twenty years ago, and the world is moving towards a global multiple-sources-of-income society. (Stone Center on Socio-Economic Inequality Working Paper Series)

Date: 2021-03-22
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Citations: View citations in EconPapers (1)

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Related works:
Working Paper: Global distributions of capital and labor incomes: capitalization of the global middle class (2022)
Working Paper: Global Distributions of Capital and Labor Incomes: Capitalization of the Global Middle Class (2022)
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Persistent link: https://EconPapers.repec.org/RePEc:osf:socarx:3g59r

DOI: 10.31219/osf.io/3g59r

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