Income and wealth inequalities in France: changes and links over time.

Summary This article sheds light on the long-term evolution of income and wealth inequalities and their relationship in France. After a sharp decline in inequality that started at the beginning of the First World War, an uneven trend has emerged (and continues) since the mid-1980s. The historical perspective helps to illustrate how small changes in inequalities in savings rates, returns to work or income can have strong long-term effects on wealth concentration. Two other major trends have been observed since the 1970s. One is the decline in the gender gap in labor income, although it remains high. The other is the increased difficulty for those with only labor income to access the highest wealth. Finally, our comparisons between France and the United States show that wealth and income inequalities were comparable or even lower in the United States before the 1970s. The U.S. has become much more unequal now.