Comment 116710

By kevlahan (registered) | Posted March 02, 2016 at 09:56:38 in reply to Comment 116705

As Piketty points out, in most societies the bottom 50% have essentially no net wealth at all (assets minus debts). The innovation of the 20th century was a property owning middle class, and it is still true that for the middle classes almost all their wealth is in their principle residence.

Wealth is far more unequally distributed than income. Although another innovation of the 20th century was "super managers" whose high incomes (rather than inherited wealth) has helped put them in the top 1%.

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