Quote from: Life Topic

Between the poorest 50 percent (who own 5 percent of total wealth, or an average of 20,000 euros each in the example [Europe 2010]) and the richest 10 percent (who own 60 percent of total wealth, or an average of 1.2 million euros each) lies the middle 40 percent: this “middle class of wealth” owns 35 percent of total national wealth, which means that their average net wealth is fairly close to the average for society as a whole—in the example, it comes to exactly 175,000 euros per adult.


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Author Bio


  • NameThomas Piketty
  • DescriptionFrench economist
  • AliasesPiketty
  • BornMay 7, 1971
  • CountryFrance
  • ProfessionEconomist
  • WorksCapital In The Twenty-First Century
  • AwardsYrjö Jahnsson Award; Prix Du Meilleur Jeune Économiste De France