Has the distribution of wealth changed over the last 1000 years?

Answer 1

In a sense, yes. Obviously the people who were wealthy 1000 years ago are not the same as the wealthy people today and very few families, if any, have been able to keep family wealth for that long. Furthermore, sources of wealth have changed. Forests have been cut down, castles have fallen into ruin, mines have been depleted. However, new sources have appeared. Oil wells have been sunk, once undesirable land has become valuable due to increased populations, railroads, water power, larger ships and other factors, so a new class of rich merchants, financiers and oil sheiks has emerged. There are wealthy families but most go back for less than 200 years.

In another sense, the percentage of wealthy people does not change much. A relatively small number of people control most of the wealth and this is true now as well it was 1000 years ago. Revolutions and tax systems have tried on occasion to divide the wealth evenly, but it never works. A small group always finds a way to gain control of the wealth. The members of the group can change, but the size of the group remains small.