The Wealth Gap Myth: Why Everything You Thought About Inequality is Wrong

Daniel Freeman of the Institute of Economic Affairs interviews Professor Daniel Waldenström about his new book, "Richer & More Equal: A New History of Wealth in the West." Waldenström's research suggests that wealth inequality has decreased over the past century, with the middle class experiencing significant growth in wealth accumulation. The discussion covers changes in wealth composition, shifting from agricultural land and industrial shares to widespread homeownership and pension savings. Waldenström examines the effects of world wars and economic policies on wealth distribution, and compares European and American experiences of wealth concentration in recent decades. This conversation explores how wealth is measured, the impact of technological advancements, and the potential benefits of promoting homeownership and funded pension systems. Waldenström's work offers a different perspective on wealth creation and distribution, encouraging viewers to reconsider common assumptions about economic progress in the West. The interview provides an accessible look at wealth inequality trends for those interested in economic history and current debates. This is a public episode. If you’d like to discuss this with other subscribers or get access to bonus episodes, visit insider.iea.org.uk/subscribe