Capitalists in the 21st Century

  title={Capitalists in the 21st Century},
  author={Owen M. Zidar and Eric Meinberg Zwick and Danny Yagan and Matthew D. Smith},
We study rising business income among top income households using a large sample of U.S. firms linked to their owners and workers from 1999-2015. We establish four findings. First, business income growth accounts for nearly all of the rise in top income inequality in the 21st century. Second, business income growth is broad-based across sectors and not concentrated among a few top firms. Third, top-owned firms earn higher profit margins than other firms, which is primarily due to diverging firm… CONTINUE READING

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