The Top 1 Percent in Other Countries

by Veronique de Rugy

Last week, economist Greg Mankiw posted an interesting chart (which he got from Paul Krugman) about the trend in the reported income of the top 1 percent of earners in the United Kingdom:

Mankiw writes:

The broad pattern is very similar to what U.S. data shows.  The figure suggests that the explanation of growing inequality over the past several decades cannot be U.S.-specific but must have broader applicability.

You can generate more plots like this here.  You find a similar U-shaped pattern in Australia, Canada, Ireland, and New Zealand but much less so in France, Germany, Japan, and Sweden.

I also found this video about income inequality by Prof. Steve Horwitz informative.