This comprehensive two-volume collection includes seminal and classic articles that are key in the development of economic analysis of the distribution of wealth. Volume I discusses measurement of the distribution of wealth and analyses the time trends in wealth concentration and the importance of the role of inheritance. Theoretical approaches, including both stochastic and behavioural models are also explored. Volume II continues with articles on the determinants of saving and bequests whilst analysing life cycle and permanent income studies, as well as the role of entrepreneurship and taxation. It also includes key contributions to the controversy over the relative importance of inherited vs. self-made wealth. Along with a new and original introduction by the editor, these volumes are an indispensable tool for scholars and practitioners alike.

There is great media fascination in the activities and lifestyles of the super-rich. But personal wealth is also important for those of more modest means as a store of potential consumption, as a cushion against emergencies, and as collateral for business and investment loans. This book is the first global study of household assets and debts. It documents not only the level, distribution, and trend of wealth holdings in rich nations, but also addresses developing countries like China and India. The situation in Latin America and Africa is given attention along with the experiences of Russia and other transition countries. Components of household wealth like financial assets, land, and property are examined, as well as the gender division. Worldwide, it is estimated that the richest 2% own more than half of total global wealth, and that this elite group resides almost exclusively in North America, Western Europe, and rich Asia-Pacific countries.