We present the first comprehensive, long-run estimates of Finnish wealth and its distribution from 1750 to 1900. Using wealth data from 17,279 probate inventories, we show that Finland was very unequal between 1750 and 1850; the top decile owned about 90% of total wealth. This means that Finland was more unequal than the much wealthier economies Britain, France and the US, which goes against the common assumption of richer economies being more unequal. Moreover, when industrialisation took off in Finland, inequality started a downward trajectory. High inequality 1750-1850 was bottom-driven, by a large share of the population owning nothing or close to nothing of value, while economic development after 1850 was pro-equal since the ownership of forests, since long in the hands of the peasantry, became more valuable with the development of forest-based industries. Our findings thus contradict commonplace assumptions that economic growth and industrialisation are associated with more inequality, as well as recent arguments that very few factors beyond catastrophes can decrease inequality. We instead argue for a more inductive and open approach to the determinants of long-run inequality.
The nineteenth century in Finland was characterized by significant societal changes. Since 1809 a Grand Duchy of imperial Russia, Finland began to transform from an early modern society of estates to a modern civic society. The end of the nineteenth century was characterized by significant economic growth. Despite this general development, for many people this era signaled impoverishment and downward mobility that affected even the next generations. A fresh look at the economic threats on various societal layers is called for. In this theme issue we are concerned with socially varying dimensions of destitution, its manifestations, and the ways in which it was experienced and repelled. We explore the manifold and fruitful sources available, some of which are as yet little explored, while others afford novel approaches to the history of poverty.
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