Rue de la Banque No. 66, July 2018
This Rue de la Banque analyses the long-run evolution of wealth in France from 1800 to 2014, using estimates from Garbinti, Goupille-Lebret and Piketty (2017). Following a period of prolonged stability during the 19th century, inequality declined significantly from the beginning of the 20th century before increasing, moderately but constantly, since the mid‑1980s. Financial assets have accounted for an ever-increasing proportion of the wealth of the richest individuals since the 1970s. In the long run, highly contrasting scenarios for the evolution of wealth inequality are possible, depending on differences in labour incomes, saving rates and asset portfolio rates of return.