Great britain could be the nation which is why we possess the information that is best on the circulation of income within the extremely long term. These records is visualized in this chart. The top panel shows the share of total earnings visiting the top 5% of income earners, in addition to bottom panel shows the Gini coefficients.
The first quotes depend on social tables, and also as with many quotes through the more past that is distant there was some concern exactly how accurate these estimates are. Holmes published a ciritique that is detailed perhaps one of the most famous tables: Gregory King’s Social Table for England in 1688. Holmes (1977) revealed King’s limits as being an analyst that is social criticized their social dining dining table, arguing that different biases “beguiled him (1) into underestimating how many families in certain regarding the wealthiest, and fiscally many productive classes; and (2) into underestimating (often grossly) earnings amounts at numerous rungs over the poverty line. (more…)