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What Happened to the Incomes of the Rich during the Great Levelling? Evidence from Swedish Individual-Level Data, 1909–1950

Erik Bengtsson & Jakob Molinder

The Journal of Economic History2025https://doi.org/10.1017/s0022050725000221article
AJG 3ABDC A*
Weight
0.49

Abstract

We use individual-level income data from archived taxation lists to study top-income earners in Sweden from 1909 to 1950. Using information on 21,055 individual taxpayers in two elite areas in greater Stockholm, we show that top incomes fell in real terms over this period, at a stable pace without obvious connection to the Great Depression or the world wars. The peak of inequality was related to the early stages of a globalized economy with Schumpeterian entrepreneurial profits; the decline was related to sharpened competition, driving down profits, as well as increased regulation, expansion of education, and eroded position of professionals.

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https://doi.org/https://doi.org/10.1017/s0022050725000221

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@article{erik2025,
  title        = {{What Happened to the Incomes of the Rich during the Great Levelling? Evidence from Swedish Individual-Level Data, 1909–1950}},
  author       = {Erik Bengtsson & Jakob Molinder},
  journal      = {The Journal of Economic History},
  year         = {2025},
  doi          = {https://doi.org/https://doi.org/10.1017/s0022050725000221},
}

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Evidence weight

0.49

Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40

F · citation impact0.44 × 0.4 = 0.18
M · momentum0.60 × 0.15 = 0.09
V · venue signal0.50 × 0.05 = 0.03
R · text relevance †0.50 × 0.4 = 0.20

† Text relevance is estimated at 0.50 on the detail page — for your query’s actual relevance score, open this paper from a search result.