This paper examines how economic stratification affects inequality and growth over time. It studies economies where …

redistributions decreases with the degree of inequality, at least over some range. Moreover, capital market imperfections make future … high inequality and low redistribution, or vice versa. Temporary shocks to the distribution of income or the political …

’ rent-seeking abilities, as well as with the gap between rich and poor. It is not income inequality per se that matters …, however, but inequality in the relative distribution of earning and political power. For each of the three channels of …-country differences in inequality permanent, or gradually narrowing? Equivalently, is there convergence not just in the first moment of …

, which provides an integrated framework for analysing the local determinants of inequality and growth. Five main conclusions … inequality in education and income more persistent across generations. Whether the same is true of inequality in total wealth …