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This is problematic because we know that in every country wealth surveys tend to underestimate top wealth shares as compared to estimates based upon administrative fiscal data.
As the authors note, "Surprisingly, our top wealth shares series do not increase during the 1990s, a time of extraordinary stock price growth and perceived as having been extremely favorable to the creation of new fortunes".
The charity uses a straight-line projection of the trend in wealth shares in 2010-14 to forecast that just 50m adults will hold the majority of the world's household wealth by next year.
(iii) There does not appear to be an increase in the wealth shares of the top 1% or the top 10% between 2000 and 2010 in the raw data: conversely, Piketty's data shows a slight increase.
To ensure a fair distribution of wealth, shares in each newly privatised company would be divided into three tranches, one set aside for the 57 million workers and managers, another solely for outside investors, and the remaining controlling interest retained by the state.
In particular, the estimate for year 1970 tries to combine the estimates available for top 10% and top 1% wealth shares for years 1960 and 1980 and the evolution of very top wealth shares between 1960 , 1970 and 1980
Similar(44)
The wealth share of emerging markets is expected to pick up pace again.
So he assumed their wealth share was consistently that of the top 1% plus 36 percentage points.
Yet if those tempted by unimaginable wealth share Icarus's hubris, theirs is also a tragic fall.
For example, Giles points out that Piketty seems to add an arbitrary two per cent to the wealth share of the top one per cent in 1970.
The Macau government routinely gives residents annual "wealth share" cash handouts, raising the allowance this year to 7,000 Macau patacas, or about $875, to try to stem public discontent.
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