The Great Leveling: A Note

Mark Thornton

“ABSTRACT: Peter H. Lindert and Jeffrey G. Williamson, in their book Unequal Gains: American Growth and Inequality since 1700 (Princeton University Press, 2016), explore the reasons for the decline in the share of income captured by top earners in industrialized nations. Embedded in their take on the “Greatest Leveling” is a push for progressive redistribution policies, based on old misconceptions from Malthus and the Classical economists.”