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Top Wealth Shares in the UK Over More Than a Century*
TOP WEALTH SHARES IN THE UK OVER MORE THAN A CEN TURY Facundo Alvaredo Anthony B Atkinson Salvatore Morelli INET Oxford WorkinG Paper no. 2017-01 19 December 2016 Employment, Equity & Growth Programme Top wealth shares in the UK over more than a century* Facundo Alvaredo Paris School of Economics, INET at the Oxford Martin School and Conicet Anthony B Atkinson Nuffield College, London School of Economics, and INET at the Oxford Martin School Salvatore Morelli CSEF – University of Naples “Federico II” and INET at the Oxford Martin School This version: 19 December 2016 Abstract Recent research highlighted controversy about the evolution of concentration of personal wealth. In this paper we provide new evidence about the long-run evolution of top wealth shares for the United Kingdom. The new series covers a long period – from 1895 to the present – and has a different point of departure from the previous literature: the distribution of estates left at death. We find that the application to the estate data of mortality multipliers to yield estimates of wealth among the living does not substantially change the degree of concentration over much of the period both, in the UK and US, allowing inferences to be made for years when this method cannot be applied. The results show that wealth concentration in the UK remained relatively constant during the first wave of globalization, but then decreased dramatically in the period from 1914 to 1979. The UK went from being more unequal in terms of wealth than the US to being less unequal. However, the decline in UK wealth concentration came to an end around 1980, and since then there is evidence of an increase in top shares, notably in the distribution of wealth excluding housing in recent years. -
Auction 87 to Take Place on 13 April 2019
Auction 87 To take place on 13 April 2019 Please post bids to Peter McGowan, Nethergreen House, 9 The Green, Ruddington, Notts NG11 6DY Or email: [email protected] The deadline is Tuesday, 9 April 2019. Late bids cannot be recorded. Ensure you include your current address and contact details. If you are bidding by email, please make sure you have received his confirmation of receipt. Successful bidders living outside the UK will be asked to pay for their lots before despatch. If two bids of the same amount are received for a lot, then the bid received first will take precedence, so early bidding is desirable. All lots now carry reserves, either at a default value of 75% of the estimate or at an undisclosed figure set by the seller. No bid will be accepted below the reserve. Take into account that some of our estimated prices appear rather too modest, and may be well overbid. We don’t claim that these estimates are wholly consistent, so make allowance for this. Remember that revised auction rules, issued last year, now apply. NB: See the members’ page of our website for images of this material. Items unsold in our auctions eventually get added to the Web Offer pages that can be found at www.bookplatesociety.org/WebOffer2.htm where hundreds of exlibris owned by members are available for direct sale at fixed prices. £ 1 JW Spenceley (Boston, USA): Susan EP Forbes, loz arm within 5 pict vignettes & flowers, 1905; Mary Florence Taft (1853-1927, a cousin of President Taft) pict, books, room interior, foliage, oli lamp, 1902. -
March 2010 an Independent Paper Delivered FREE of CHARGE to Every Home & Business in Moreton in Marsh, Blockley, Bourton on the Hill and Todenham
Moreton tiMes Issue 41 • March 2010 An independent paper delivered FREE OF CHARGE to every home & business in Moreton in Marsh, Blockley, Bourton on the Hill and Todenham. Copies also go to Batsford, Draycott and Dorn, Great Wolford and Little Wolford, Little Compton and Long Compton. Copies of Moreton Times also go into Chipping Campden & Chipping Norton Extra copies are generally available at the Moreton Area Centre in Moreton High Street, and at Moreton Library. THE PENTHOUSE SUITE (FORMERLY TEMPLE SPA) HAIR NAILS & BEAUTY THE PENTHOUSE SUITE 3rd Floor of The Talbot 01451 870123 Nicky and the girls look forward to welcoming you... hair, nails and beauty. Call soon. Moreton tiMes From the Editor Inside the March edition March – the month when the winds blow cold, and in this part FEATURES of the Cotswolds we really know it. Some days it is just like the middle of Winter! In March there should be spring flowers 4 Flood Resilience – Update Meeting 19th March around - and with spring flowers comes Mothering Sunday, a sure sign that Spring is coming. 6, 7 Memories of the Local Railways, by Alan Price 12 North Cotswolds Community Radio – Spotlight on Saturday, online This month the clocks ‘spring forward’ and we lose a precious hour in bed on that last Sunday morning of the month. Ahhh, 15 The Royal British Legion, in Stow British Summertime. The brochures and columnists tell us that UK is the place to be this year… and as we live in one of the most stunning and enjoyable rural areas in the British Isles, are REGULARS you planning to holiday at home, locally, further afield, or 13 Rotary – Your Fund-raising support for Haiti even (dare we say it) abroad this summer? 16 BOOK REVIEWS - from Cotswold Bookstore Consider the Lilies – A Cautionary Tale from a Cotswold Vet At Moreton Times we see the events entries increasing a little 17 Police - Safer Community Team Update each month as the days lengthen and the temperature edges Meet your new Village Agent upwards. -
Fine English Furniture & Works Of
Bonhams 101 New Bond Street London W1S 1SR +44 (0) 20 7447 7447 +44 (0) 20 7447 7400 fax 20741 Fine English Furniture & Works of Art, of Works Fine English Furniture & 6 March 2013, New Bond Street, London Bond Street, New 6 March 2013, Fine English Furniture & Works of Art Wednesday 6 March 2013 at 2pm New Bond Street, London Fine English Furniture & Works of Art Wednesday 6 March 2013 at 2pm New Bond Street, London Bonhams Enquiries Customer Services 101 New Bond Street [email protected] Monday to Friday 8.30am to 6pm London W1S 1SR +44 (0) 20 7447 7447 www.bonhams.com Furniture & Works of Art Guy Savill Please see back of catalogue Viewing +44 (0) 8700 273 604 for important notice to bidders Sunday 3 March 11am to 3pm [email protected] Monday 4 March 9am to 4.30pm Illustrations Tuesday 5 March 9am to 4.30pm Sally Stratton Front cover: Lot 20 Wednesday 6 March 9am to 12pm +44 (0) 8700 273 603 Back cover: Lot 18 [email protected] Inside front cover: Lot 285 (detail) Bids Inside back cover: Lot 285 (detail) +44 (0) 20 7447 7448 Sculpture 20741 +44 (0) 20 7447 7401 fax Rachael Osborn-Howard Sale Number: To bid via the internet please visit +44 (0) 8700 273 610 £20 (£25 by post) www.bonhams.com [email protected] Catalogue: Please provide details of the lots Administrator Live online bidding is on which you wish to place bids Jackie Brown available for this sale at least 24 hours prior to the sale. -
Roll of the Peerage Created Pursuant to a Royal Warrant Dated 1 June 2004
THE ROLL OF THE PEERAGE CREATED PURSUANT TO A ROYAL WARRANT DATED 1 JUNE 2004 © Crown copyright Latest revision: 1 October 2013 The Roll of the Peerage is produced and administered by: Ian Denyer, Esq., M.V.O., and Grant Bavister, Esq. Crown Office Ministry of Justice Rm C2/13 House of Lords LONDON, SW1A 0PW. CAMBRIDGE His Royal Highness the Prince William Arthur Philip Louis Duke of Cambridge. CORNWALL See WALES. EDINBURGH His Royal Highness the Prince Philip Duke of Edinburgh. GLOUCESTER His Royal Highness Prince Richard Alexander Walter George Duke of Gloucester. KENT His Royal Highness Prince Edward George Nicholas Paul Patrick Duke of Kent. ROTHESAY See WALES. WALES His Royal Highness the Prince Charles Philip Arthur George Prince of Wales (also styled Duke of Cornwall and Duke of Rothesay). WESSEX His Royal Highness the Prince Edward Antony Richard Louis Earl of Wessex. YORK His Royal Highness the Prince Andrew Albert Christian Edward Duke of York. * ABERCORN Hereditary Marquess in the Peerage of the United Kingdom: James Marquess of Abercorn (customarily styled by superior title Duke of Abercorn). Surname: Hamilton. ABERDARE Hereditary Baron in the Peerage of the United Kingdom (hereditary peer among the 92 sitting in the House of Lords under the House of Lords Act 1999): Alaster John Lyndhurst Lord Aberdare. Surname: Bruce. ABERDEEN AND TEMAIR Hereditary Marquess in the Peerage of the United Kingdom: Alexander George Marquess of Aberdeen and Temair. Surname: Gordon. ABERGAVENNY Hereditary Marquess in the Peerage of the United Kingdom: Christopher George Charles Marquess of Abergavenny. Surname: Nevill. ABINGER Hereditary Baron in the Peerage of the United Kingdom: James Harry Lord Abinger. -
The Wakes Were a Norman Family That Held Land in Guernsey C
List of Parliamentary Families 527 WAKE Origins: The Wakes were a Norman family that held land in Guernsey c. 1100 and in Lincolnshire by the 12th c. Acquired estates in Northamptonshire by marriage 1138. Summoned to Parliament as a baron by writ (Lord Wake) 1295-99. The second Lord Wake summoned as a baron 1317-48. First MP 1300 for Northamptonshire. Four further MPs 1407-1624, three kts of the shire. 1. Sir William Wake 8 Bt – Bedford 1774-84 Seats: Courteenhall, Northamptonshire (built later 16th c., remod. 17th c., inher. by mar. to Jones heiress 1672, rebuilt 1791-95, still own); The Abbey House, Waltham, Essex (built c. 1590, acq. by Jones family 1676 and inher. by Wakes from them 1688, main seat until late 18th c., largely abandoned after 1739, ruinous by 1770) Estates: Bateman 3141 (E) 5810. Owned 62,500 acres in Scotland in 1970. The Scottish estate was sold. Still owned 2,000 acres in Northamptonshire in 2001. Title: Baronet 1621- Notes: The 3rd Wake Bt married the Drury heiress and succeeded to estates in Suffolk 1712-44. The Drurys quite probably accompanied the Conqueror to England. (Roskell, Clark, and Rawcliffe, The House of Commons, II, 803) The Drurys produced eleven MPs 1391-1625, seven kts of the shire. (See Gordon, The Wakes of Courteenhall) 2 Lord Wake and two others in ODNB. WAKELY (Wackley, Wakeley) IRELAND Origins: Tudor soldier had a patent of lands in Meath 1547. First {MP 1559}. One additional {MP 1585}. Sheriff 1570. 1. John Wakeley – {Kilbeggan 1692-93} Seat: Ballyburley, King’s County (acq. -
Telephone Moreton Times on Our Design Team This Month Was Eagle Design Ltd
Moreton tiMes Issue 74 December 2012 An independent magazine delivered FREE OF CHARGE to every home & business in Moreton in Marsh, Blockley, Bourton on the Hill and Todenham. Copies also go to Aston Magna, Draycott, Great Wolford and Little Wolford, Little Compton, Long Compton and Whichford. Copies of Moreton Times also go into Chipping Campden & Shipston on Stour Extra copies are generally available at the Moreton Area Centre in Moreton High Street, and at Moreton Library. MMeerrrryy CChhrriissttmmaass 2 Merry Christmas and a Happy new Year froM tHe Moreton tiMes teaM From the Editor Inside this edition Countdown to Christmas Our traditional images of Christmas are of snow, often set against FEATURES a blue sky maybe with a red-breasted robin, lights twinkling on 12 Four new books from local authors in time for Christmas decorated trees, perhaps reindeer on the roof, and friends and 14 Home Working – what’s new? From Natalie Roach, employment family gathered around a bright burning fire - at home. Peace to law specialist the world, a saviour is born. 18,19 Short Story by Nicholas John - ‘Stage Struck’ 20 Redesdale Hall, Moreton in Marsh - A part of local history It’s by chance that our Christmas comes roughly in the middle of 21 Up the Creek – Ideas for Christmas and party wines, by Peter Creek winter, when our weather is generally at its worst and the daylight hours at their shortest. This week it has been impossible to ignore 22 Give Carefully Online – from the Charity Commission the battering being delivered by the weather – winds so strong 23 Schrodinger’s Mouse – by David Nickson that they roar and rain running down the windows as if a hose was 38 Remembrance Sunday - photos from Moreton directed on them. -
General Index to Volumes 121–130 (2003–2012)
TRANSACTIONS of the BRISTOL AND GLOUCESTERSHIRE ARCHAEOLOGICAL SOCIETY GENERAL INDEX TO VOLUMES 121–130 (2003–2012) COMPILED BY SUSAN VAUGHAN, B.A. EDITED BY SIMON DRAPER ISBN 978 0 900197 85 7 ISSN 0068–1032 i-iv_001-124_BGAS_Index to vols 121-130.indd 1 12/02/2014 10:28 i-iv_001-124_BGAS_Index to vols 121-130.indd 2 12/02/2014 10:28 Introduction This general index covers volumes 121–130 (2003–2012) of the Transactions of the Bristol and Gloucestershire Archaeological Society and Historic Churches and Church Life in Bristol: Essays in Memory of Elizabeth Ralph (2001, ed. Joseph Bettey). It includes all significant persons, places and subjects with the exception of the summaries of accessions from Gloucestershire Archives and the subjects of books reviewed. Volume numbers are shown in bold type with page numbers following in normal type, for instance 121.38. Illustrations are denoted by page numbers in italics or by (illus.) where figures are scattered throughout the text. The letter ‘n’ following a page number indicates that the reference will be found in a note. Alphabetization is word by word. Women are indexed under their maiden name, where known, with cross-references from any married names. Generally places within historic Bristol and Gloucestershire are arranged by modern civil parish. Certain sites, hamlets and former civil parishes are cross-referenced to their present parish; e.g. Apperley, see under Deerhurst; Stratton, see under Cirencester. Places outside Bristol and ancient Gloucestershire are followed by their present county or administrative area. i-iv_001-124_BGAS_Index to vols 121-130.indd 3 12/02/2014 10:28 Abbreviations Aberdeens. -
Top Wealth Shares in the UK Over More Than a Century*
Top wealth shares in the UK over more than a century* Facundo Alvaredo Paris School of Economics, INET at the Oxford Martin School and Conicet Anthony B Atkinson Nuffield College, London School of Economics, and INET at the Oxford Martin School Salvatore Morelli CSEF – University of Naples “Federico II” and INET at the Oxford Martin School This version: 19 December 2016 Abstract Recent research highlighted controversy about the evolution of concentration of personal wealth. In this paper we provide new evidence about the long-run evolution of top wealth shares for the United Kingdom. The new series covers a long period – from 1895 to the present – and has a different point of departure from the previous literature: the distribution of estates left at death. We find that the application to the estate data of mortality multipliers to yield estimates of wealth among the living does not substantially change the degree of concentration over much of the period both, in the UK and US, allowing inferences to be made for years when this method cannot be applied. The results show that wealth concentration in the UK remained relatively constant during the first wave of globalization, but then decreased dramatically in the period from 1914 to 1979. The UK went from being more unequal in terms of wealth than the US to being less unequal. However, the decline in UK wealth concentration came to an end around 1980, and since then there is evidence of an increase in top shares, notably in the distribution of wealth excluding housing in recent years. We investigate the triangulating evidence provided by data on capital income concentration and on reported super fortunes. -
Rendcomb College Chronicle March 1957
RENDCOMB COLLEGE CHRONICLE Vol. 11 No. 2 March, 1957 This volume is dedicated to the memory of Gilbert Alan Hamilton Wills, Baron Dulverton of Batsford, 1880—1956. Governor and benefactor of the College. Rendcomb College Chronicle Volume II. Number 2. March, 1957. CONTENTS. Page School Diary ... ... ... 4 Obituary: the late Lord Dulverton ... 4 College Officers ... ... ... 6 School Notes ... ... ... 6 General Meeting Officers and Notes ... 9 Old Boys’ Notes ... ... ... 10 The Christinas Party ... ... ... 13 Music Notes ... ... ... ... 15 Puppets ... ... ... ... 17 Games Report ... ... ... 18 New Library Books ... ... ... 24 New Gramophone Records ... ... 27 “Hamlet” at Stratford ... ... ... 28 Natural History Supplement ... ... 31 SCHOOL DIARY. Sept. 19. —Term began. Sept. 27. —Party visited Hobbies Exhibition at Town Hall, Cheltenham. Oct. 1. —VIth form party went to “Hamlet” at Stratford. Oct. 9. —Piano recital at Town Hall, Cheltenham. Oct. 13. —1st XV v. Dean Close 2nd XV. Away. 2nd XV v. Dean Close 3rd XV. Away. Oct. 20. —1st XV v. Cheltenham College 3rd XV. Away. Matched XV v. Cheltenham College Yearlings XV. Away. Oct. 27. —1st XV v. Marlborough College 3rd XV. Away. 2nd XV v. Marlborough College 4th XV. Away. Nov. 1. —Concert by City of Birmingham Symphony Orchestra at Town Hall, Cheltenham. Nov. 3. —1st XV v. Cheltenham College 3rd XV. Home. Matched XV v. Cheltenham College 2nd Yearlings XV. Home. Nov. 9-12. —Long-Leave. Nov. 21. —G. C. E. “O” Level began. Nov. 24. —1st XV v. Wycliffe College 2nd XV. Home. 2nd XV v. Wycliffe College 3rd XV. Home. Dec.. 8. —1st XV v. Kingham Hill 1st XV. Home. 2nd XV v. -
A Spring Tour of English Gardens and the Chelsea Garden Show JEFF GRIFF/Lowe’S Greenhouses
A Spring Tour of English Gardens and the Chelsea Garden Show JEFF GRIFF/Lowe’s Greenhouses The Chelsea Physic Garden was established as the Apothecaries' Garden in London, England, in 1673. This physic garden is the among the oldest botanical garden in Britain. Protected by the garden's heat-trapping high brick walls, many plants considered non-hardy thrive here including, what is doubtless, the world's northernmost grapefruit growing outdoors. In 1713, Dr Hans Sloane purchased the garden and initiated the golden age of the Chelsea Physic Garden under the direction of Philip Miller (1722–1770), when it became the world's most richly stocked botanic garden. The garden plots arranged by affliction, demonstrate the importance of plants in everyday life past and present. Allow 2 hours and engage a guided tour here. Highgrove is the private residence of Charles, The Prince of Wales and is opened for visitors to share. Created with imagination and passion by the Prince over the last 35 years, the series of interlinked organic gardens reflect his deep commitment to sustainability, as well as a natural artistic ability. For security reasons, all tours here are guided and it is well worth the visit. The gardens demonstrate creativity and accurately reflect current gardening trends of sustainability. Enjoy the champagne lunch and petits fours in the tea house. Arrange your visit well ahead of time. Kew Gardens is a botanical garden in London that houses the largest and most diverse botanical collections in the world". Founded in 1840, its collections include more than 30,000 different plants, while the herbarium, which is one of the largest in the world, has over seven million preserved plant specimens. -
Alvaredo, Facundo, Atkinson, Anthony B. and Morelli, Salvatore (2017). TOP WEALTH SHARES in the UK OVER MORE THAN a CENTURY
Alvaredo, Facundo, Atkinson, Anthony B. and Morelli, Salvatore (2017). TOP WEALTH SHARES IN THE UK OVER MORE THAN A CENTURY APPENDICES FOR ON LINE PUBLICATION ONLY The appendices are available, in pdf and excel formats, from the authors’ websites. Index of Appendices Appendix A. Sources of distributional data Appendix B. Sources of population, deaths, and mortality multipliers Appendix C. Estimates of the identified wealth and the wealth of the excluded population Appendix D. Control totals for adult population, total estates, and total wealth Appendix E. Distribution of estates Appendix F. Sensitivity of shares to total wealth and the estimates for the 21st century Appendix G. New series for top wealth shares in the UK Appendix H. Estimates of the distribution of wealth excluding housing Appendix I. Estates and wealth sampling procedures Appendix J. Analysis of sensitivity to mortality-wealth gradients Appendix K. Comparison with existing estimates of the distribution of wealth in the UK Appendix L. Distribution of investment income Appendix M. Top wealth shares based on The Sunday Times Rich Lists Appendix N. Comparison of probate values and Sunday Times Rich Lists Appendix O. The distribution of estates in the United States Appendix P. Linking of estimates and sensitivity of top wealth shares to linking assumptions Appendix Q. Assessing the potential effect of unrecorded wealth on top shares 1 Appendix A. Sources of distributional data Table A1 lists the sources of data on the distribution of estates in the UK since 1895. Table A2 lists the sources of data for the IR/HMRC distribution of identified wealth. Table A3 lists the sources of data for the distribution of investment income.