Wealth and Inequality over Eight Centuries of British Capitalism. Madsen, J. B. Journal of Development Economics, 138:246–260, 2019. ![Wealth and Inequality over Eight Centuries of British Capitalism [link]](https://bibbase.org/img/filetypes/link.svg "link")
Link doi abstract bibtex This paper constructs annual data for the wealth-income ratio, W-Y, for the UK over the period 1210– 2013. It is found that the W-Y ratio has fluctuated at one-two century frequencies about a constant level of approximately 500% over the past eight centuries. Furthermore, a U-shaped W-Y path is identified over the past two centuries and it is argued that the descending part of the U-shape is driven by the transition from pre-industrial modes of production to industrialization and that the post-1980 upturn in the W-Y ratio represents the transition from the industrial to the post-industrialization era.
@article{Madsen2019,
title = {Wealth and Inequality over Eight Centuries of British Capitalism},
author = {Madsen, Jakob B.},
year = {2019},
journal = {Journal of Development Economics},
volume = {138},
pages = {246--260},
doi = {10.1016/J.JDEVECO.2019.01.005},
url = {https://doi.org/10.1016/j.jdeveco.2019.01.005},
abstract = {This paper constructs annual data for the wealth-income ratio, W-Y, for the UK over the period 1210\textendash 2013. It is found that the W-Y ratio has fluctuated at one-two century frequencies about a constant level of approximately 500\% over the past eight centuries. Furthermore, a U-shaped W-Y path is identified over the past two centuries and it is argued that the descending part of the U-shape is driven by the transition from pre-industrial modes of production to industrialization and that the post-1980 upturn in the W-Y ratio represents the transition from the industrial to the post-industrialization era.},
keywords = {Trends in Aggregate Wealth and Wealth Inequality}
}
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