Abstract
This chapter examines the determinants of wealth accumulation and inequality in the modern world. The conceptual framework adopted borrows heavily from Meade (Efficiency, equality, and the ownership of property. London: George Allen & Unwin, 1964; The just economy. London: George Allen & Unwin, 1975) and Saez and Zucman (Wealth inequality in the United States Since 1913: Evidence from capitalized income tax data (NBER Working Paper No. 20625). Retrieved from National Bureau of Economic Research website http://www.nber.org/papers/w20625, 2014), but contextualises their framework in a grander socioeconomic context. The aggregate trends examined in Chap 3. are explained against the backdrop of significant historical changes in the economic systems of several advanced economies.
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