Prof Peter Scott presents a paper at the Economic History Conference in Belfast
25 April 2019
Prof Peter Scott presented a paper titled The comfortable, the rich, and the super-rich: What really happened to top British incomes during the first half of the 20thcentury? Peter Scott & James Walker (University of Reading) at the Economic History conference in Belfast.
The paper abstract can be found below
We examine shifts in British income inequality and their causes between 1911 and 1949. Using newly re-discovered archival Inland Revenue income distribution estimates to augment published data, we show that personal income was substantially more concentrated in 1911 than previously thought, while the top 1 per cent were the principal “losers” in the subsequent inequality reduction. This reflects a sharp decline in top “unearned” incomes - paralleling the findings of Piketty and Saez for France and the USA, that capital incomes were negatively impacted by shocks, policy responses, and non-market mechanisms associated with the retreat from globalization.