Concentration among the Rich

The aim of this paper is to examine the concentration of wealth among the group of top wealth holders, defined as those with wealth in excess of a high cut off. The paper begins by considering the definition of this cut off, analogous to the definition of a poverty line at the other end of the distribution. It then considers what can be learned about the proportion classified as ?rich? and about the concentration among the rich from four non-survey sources: journalists? lists, estate data, wealth tax data, and investment income tax data. It starts off from the world?s billionaires in 2006, but is particularly concerned with changes over time within countries, taking France, Germany, the UK, and the USA, to illustrate the different sources.wealth, inequality, assets, rich

A study of the spatial characteristics of the Jews in London 1695 & 1895

This paper suggests that the settlement pattern of Jews in London is in a distinct cluster, but contradicts the accepted belief about the nature of the 'ghetto'; finding that the traditional conception of the 'ghetto', as an enclosed, inward-looking immigrant quarter is incorrect in this case. It is shown that despite the fact that the Jews sometimes constituted up to 100% of the population of a street, that in general, the greater the concentration of Jews in a street, the better connected (more 'integrated') the street was into the main spacial structure of the city. It is also suggested here that the Jewish East End worked both as an internally strong structure of space, with local institutions relating to and reinforcing the local pattern of space; and also externally, with strong links tying the Jewish East End with its host society. It is proposed that this duality of internal/external links not only strengthens Jewish society but possibly contradicts accepted beliefs on the structure of immigrant societies

A traitor's death? The identity of a drawn, hanged and quartered man from Hulton Abbey, Staffordshire

Analysis of a set of bones redeposited in a medieval abbey graveyard showed that the individual had been beheaded and chopped up, and this in turn suggested one of England's more gruesome I execution practices. Since quartering was generally reserved for the infamous, the author attempts to track down the victim and proposes him to be Hugh Despenser, the lover of King Edward II

Models of Financial Markets with Extensive Participation Incentives

We consider models of financial markets in which all parties involved find incentives to participate. Strategies are evaluated directly by their virtual wealths. By tuning the price sensitivity and market impact, a phase diagram with several attractor behaviors resembling those of real markets emerge, reflecting the roles played by the arbitrageurs and trendsetters, and including a phase with irregular price trends and positive sums. The positive-sumness of the players' wealths provides participation incentives for them. Evolution and the bid-ask spread provide mechanisms for the gain in wealth of both the players and market-makers. New players survive in the market if the evolutionary rate is sufficiently slow. We test the applicability of the model on real Hang Seng Index data over 20 years. Comparisons with other models show that our model has a superior average performance when applied to real financial data.Comment: 17 pages, 16 figure

An Analysis of the Distribution of Wealth Across Households, 1989-2010

[Excerpt] Different views about the impact of redistributive policies on long-term economic growth underlie congressional deliberations on such issues as taxation and social welfare. To help inform these policy debates, this report analyzes data from the 1989 to 2010 Survey of Consumer Finances (SCF) on the trend in the distribution of wealth across households. The roles of stock and home ownership in wealth accumulation are subsequently examined. The report closes with a review of explanations for the accumulation and distribution of wealth across households

Wealth inequality: data and models

In the United States wealth is highly concentrated and very unequally distributed: the richest 1% hold one third of the total wealth in the economy. Understanding the determinants of wealth inequality is a challenge for many economic models. We summarize some key facts about the wealth distribution and what economic models have been able to explain so far.Wealth