Top Incomes in France in the Twentieth Century

Income inequality, top shares of income and social classes in the 21st century

“…These results connect closely with the second area of inquiry of the paper, which is the growth of wages at the top of the distribution. Consistent with the existing literature (among others, Piketty & Saez 2007;Atkinson et al 2011;Piketty & Saez 2013;Aaberge et al 2018;Atkinson & Lakner 2021), we find that there is a significant presence of labour income in the top of the income distribution. What is more relevant from our perspective, however, is who receives this labour income.…”

“…Other studies exclude the top 1% of wage earners from the computation of the labour share of income. Among these contributions, Glyn (2009) uses data from Piketty and Saez (2007), to estimate the American labour share by subtracting the top 1% of employment income. These estimations lead to a much sharper reduction in the labour share in recent decades than aggregate conventional calculations.…”

“…The second aspect pertains to the role played by managers. Different authors note that the increasing presence of wages at the top of the distribution of incomes distribution is most likely due to the increasing compensations of "super-managers", CEOs, and high professionals in large corporations (Atkinson et al, 2011;Piketty and Saez, 2007). At the same time, another large and diverse group of scholars ( Friedman 1970;Krueger 1999;Mohun 2006;Glyn 2009;Sotiropoulos et al 2013;Milios 2018, among others) argues that managers' functions (and interests) are more aligned with those of capitalists and therefore they should not be classified within the labour class, even though managers are mostly wage-earners.…”

Ciencia Abierta y Sociedad Moderna: Reflexiones desde el Sur Global 1° Ed

“…Piketty sugiere que los "cataclismos sociales" o eventos significativos y crisis que afectan la estructura social y económica generan modificaciones en la propiedad privada y reducen la participación del capital, lo que resulta en una disminución de la desigualdad económica. De acuerdo con Piketty (2007), la estabilidad de la élite política está vinculada a los cambios en la distribución del ingreso, especialmente aquellos provocados por eventos importantes (Piketty, 2007).…”

Income inequality among entrepreneurs in Ondo State, Nigeria

“…In particular, studies have argued that a prolonged period of higher inequality in advanced economies was associated with the global financial crisis by intensifying leverage, overextension of credit, and a relaxation in mortgage-underwriting standards (Rajan, 2010), and allowing lobbyists to push for financial deregulation (Acemoglu, 2011). Many studies suggest that growing wealth inequality in advanced economies is largely driven by rising wealth concentration at the top (Piketty, 2014;Saez, 2014) Indeed, some studies have found that financial development, measured as the relative share of the banking and stock market sectors in the economy, boosts top incomes mostly in the early stages of development (Roine and Waldenström, 2009). Moreover, inequality can increase as those with higher incomes and assets have a disproportionately larger share of access to finance, which may further increase the skill premium, and potentially the return to capital (Claessens and Perotti, 2007).…”