2015/11/25 by Simon Mohun
Economics, Econometrics and Finance · Social Sciences · #Economic Theory and Policy #Income, Poverty, and Inequality #Political Economy and Marxism
paper · doi:10.1111/meca.12107
crossref issued 2015/11/25 · crossref published 2015/11/25 · crossref published-online 2015/11/25 · openalex publication_date 2015/11/25 · crossref created 2015/11/26 · crossref published-print 2016/05/01 · crossref deposited 2023/09/13 · openalex created_date 2025/10/10 · crossref indexed 2026/07/28 · openalex updated_date 2026/07/28
Abstract Quantitative measures of class, by percentile position and income share, are constructed using U.S. personal income distribution tax‐unit data from 1918 to 2012. Three classes are identified: ‘capitalists’ with sufficient non‐labour income that they do not need an employment contract (although typically they are in employment); ‘managers’, with insufficient non‐labour income to meet that threshold; and ‘workers’ with no supervisory responsibilities in employment. Class measures of inequality show that inequality was very much greater by 2010‐11 than at any time since 1918. The paper concludes with how causal explanations might be constructed and how the data might be used.