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Instead, OECD economists proposed higher average tax rates for the top 1%, through reducing tax avoidance, raising wealth taxes, and restricting allowances and reliefs.
The Bank of England describes its actions in monetary terms: by expanding the amount of money in the hands of the public, some people will shift to riskier assets such as stocks and bonds, raising wealth and spurring investment.
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It says real estate prices will rise, corporations will make greater profits and new financial instruments will be issued to raise wealth.
Other calculations by the Credit Suisse team "hint at raising global wealth inequality in recent years" and show that overall wealth in the US has grown at a faster pace than incomes.
House prices rose by 60% from 1982 to 1986, raising household wealth and buoying confidence.
The anti-estate tax lobby is now shifting its considerable resources toward raising the wealth exemption to $10 million and reducing the rate to 35percentt.
Higher share prices have raised household wealth by some $1.4 trillion, which will spur some spending.
The flood of Wells's prose lifted him from the respectable poverty in which he was raised to wealth and international fame.
Having been raised in wealth and privilege, he was now exposed to hardship and human suffering, especially among Boston's immigrant populations.
Higher stock prices have raised household wealth, which should spur spending and offset some of the damage of lower home values.
In short, the process of capital biased technical change (if that's what it is) likely contributes to our inequality problem even as it raises aggregate wealth.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com