title: Inequality in the long run.
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.
authors.affiliation: Department of Economics, Paris School of Economics, Paris, France. thomas.piketty@psemail.eu.
authors.forename: Thomas
authors.initials: T
authors.lastname: Piketty
authors.affiliation: Department of Economics, University of California at Berkeley, Berkeley, CA, USA.
authors.forename: Emmanuel
authors.initials: E
authors.lastname: Saez
mesh_terms: D057217:Economic Development; D005060:Europe; D049668:History, 15th Century; D049669:History, 16th Century; D049670:History, 17th Century; D049671:History, 18th Century; D049672:History, 19th Century; D049673:History, 20th Century; D049674:History, 21st Century; D049690:History, Ancient; D006801:Humans; D007182:Income / Q000266:history / Q000706:statistics & numerical data* / Q000639:trends*; D012959:Socioeconomic Factors / Q000266:history; D014481:United States