Thomas Piketty-On the Long-Run Evolution of Inheritance France 1820-2050

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    KCEG"P^E N_CK^VICE CO IEMNPIVAEJN 1 Vmiz bigmv znpic~zky anjv zcbn cc~p jcejk~zicez -n%g%+ a`c~v wcphieg pijm npz~z pnevinpz)+? aef izkihnky vc `njcbn iejpnaziegky |pc`knbavij ie vmn jcbieg fnjafnz%Zc iv iz ib|cpvaev vc fnnkc| wayz vc jcppnjv cp vmiz% En}v+ nnei wn wnpn a`kn vc c`znpn -cp ib|~vn) ~kk njcecbij ja|ivak ie"jcbn+ vmiz wc~kf ecv vnkk ~z aeyvmieg a`c~v vmn zmapn c ja|ivakiejcbn jcbieg pcb cenz cwe zaiegz aef vmn zmapn cpigieavieg

    pcb iemnpivnf wnakvm% Ie iejcbn va} pnv~pez+ cen fcnz ecv c`"znpn wmnpn wnakvm jcbnz pcb% Ocp a zbakk e~b`np c jc~evpinz+kceg"p~e znpinz ce vc| wnakvm zmapnz -gnenpakky `aznf ce nzvavnva} pnv~pez) man pnjnevky `nne jcezvp~jvnf%7 Vmnzn zv~finz jce"opb vmav vmnpn waz a zigeiojaev fnjkien ie wnakvm jcejnevpavicef~pieg vmn 1916196> |npicf+ a||apnevky wivm ec pnjcnpy zc ap%=

    >% \apviak jcppnjvicez wnpn bafn cp a e~b`np c jc~evpinz+ `~v vmnpn wazec zyzvnbavij avvnb|v vc fnnkc| ae ib|~vavice bnvmcf% Cen zmc~kf `n awapn cvmn ajv vmav cp bczv jc~evpinz -iejk~fieg Opaejn+ vmn ^eivnf Hiegfcb+ aef vmn^eivnf Zvavnz)+ c~p znpinz bnaz~pn vmn zmapn c vc| pn|cpvnf iejcbnz -pavmnp vmaevc| njcecbij iejcbnz)%

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    giv cw vc vmn `nq~nzv cw+ nz|njiakky gine vmn pnkavinky zbakkaef zva`kn agn finpneviak `nvwnne fnjnfnevz aef fcecpz -apc~ef

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    KCEG"P^E N_CK^VICE CO IEMNPIVAEJN 11

    vmn pnkavin wnakvm c nkfnpky -aef vmnpncpn vmn pnkavin ib|cp"vaejn c iemnpivaejn)% Vmn iev~ivice cp -p)5 < iz vmn c||czivn4 a

    migmnp pavn c pnv~pe ginz bcpn wnigmv vc |azv iemnpivaejn aefpaiznz vmn pnkavin wnakvm c vmn nkfnpky% Ie vmn zabn way az ievmn jkcznf njcecby jazn+ vmn ib|cpvaev |ciev a`c~v vmiz cpb~kaiz vmav iv jcenpgnz npy azv vc jkazz zaieg knnkz az g < aef#cpaz p p%

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    Kcwnp gpcwvm aef#cp migmnp pavnz c pnv~pe paizn iemnpivaejn4-g);

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    KCEG"P^E N_CK^VICE CO IEMNPIVAEJN 1117

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    c fnjnfnevz+ mnipz+ fcecpz+ aef fcennz ie Opaejn cnp vmn 1=0

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    111= Q^APVNPKY DC^PEAK CO NJCECBIJZ

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    Wn akzc vahn az gine vmn anpagn |pnva} pavn c pnv~pe pv+wmijm wn jcb|~vn `y fiifieg ja|ivak iejcbn YHv `y aggpngavn|piavn wnakvm Wv+ aef vmn anpagn avnp"va} pavn c pnv~pe pfv 2-1 Hv) pv -wmnpn Hv iz vmn aggpngavn ja|ivak va} pavn)% Wn az"z~bn vmav wnakvm mckfnpz pcb akk agn gpc~|z gnv vmn zabn anp"agn avnp"va} pavn c pnv~pe pfv ce vmnip wnakvm Wv- a)% Vmiz iz npyb~jm a zib|kiyieg azz~b|vice% Ie vmn pnak wcpkf+ pavnz c pnv~peapy wifnky ajpczz azznvz4 vy|ijakky+ pnv~pez ce zvcjh aef pnak nz"vavn apn b~jm kapgnp vmae pnv~pez ce `cefz%>= Vmiz bigmv |czzi"

    `ky nevaik zyzvnbavij finpnejnz ajpczz agn gpc~|z% Mcwnnp+ wnhecw npy kivvkn a`c~v z~jm zyzvnbavij apiavicez+ zc az a opzv a|"|pc}ibavice avvpi ~vieg vmn zabn anpagn pnv~pe vc akk agn gpc~|zznnbz kihn vmn bczv pnazcea`kn azz~b|vice%

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    mckfnpz c |piavn wnakvm Wv ie Opaejn cnp vmn |azv vwc jnev~pinz%Eaviceak ajjc~evz apn ecv |npnjv% @~v vmiz iz apg~a`ky vmn bczvjcb|pnmnezin fava zc~pjn vmav wn man+ aef cen c~gmv vc zvapvpcb vmnpn%

    Wn |pnznev vwc baie znpinz c zib~kavicez4 cen cp vmn 1=0=% Ocp n}ab|kn+ ajjcpfieg vc @appc -0

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    KCEG"P^E N_CK^VICE CO IEMNPIVAEJN 1119

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    110< Q^APVNPKY DC^PEAK CO NJCECBIJZ

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    KCEG"P^E N_CK^VICE CO IEMNPIVAEJN 1101

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    1100 Q^APVNPKY DC^PEAK CO NJCECBIJZ

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    KCEG"P^E N_CK^VICE CO IEMNPIVAEJN 11:1

    Zckcbc~+ Z% aef B% Wnakn+ \npzceak Znjvcp Wnakvm ie vmn ^eivnf Hiegfcb+190019>?+ Pninw co Iejcbn aef Wnakvm+ 6: -:) -1997)+ 097:1=%

    Zvab|+ D% J%+ Vmn Wnakvm aef Iejcbn c vmn Jmin \cwnpz+ Dc~peak co vmn PcyakZvavizvijak Zcjinvy+ =0-6) -1919)+ 661>