Revenus du travail et du capital, en % du revenu national

100%
90%
80%

Graphique 6.1. Le partage capital-travail au Royaume-Uni, 1770-2010

Revenus du travail
Revenus du capital

70%
60%
50%
40%
30%
20%
10%
0%
Lecture: au 19e sicle, les revenus du capital (loyers, profits, dividendes, intrts,.) reprsentent environ 40% du revenu national, contre 60% pour les revenus du travail (salari et non salari). Sources et sries: voir piketty.pse.ens.fr/capital21c.

Revenus du travail et du capital, en % du revenu national

100%

Graphique 6.2. Le partage capital-travail en France, 1820-2010

90%

Revenus du travail

80%

Revenus du capital

70%
60%
50%
40%
30%
20%
10%
0%
Lecture: au 21e sicle, les revenus du capital (loyers, profits, dividendes, intrts,.) reprsentent environ 30% du revenu national, contre 70% pour les revenus du travail (salari et non salari). Sources et sries: voir piketty.pse.ens.fr/capital21c.

R e v e n u s d u tr a v a il e t d u c a p ita l, e n % d u r e v e n u n a tio n a

16.0%

Graphique 6.3. Le rendement pur du capital au Royaume-Uni, 1770-2010

14.0%
12.0%
10.0%

Taux de rendement moyen

observ du capital
Taux de rendement pur du
capital (estimation)

8.0%
6.0%
4.0%
2.0%
0.0%
Lecture: le taux de rendement pur du capital est relativement stable autour de 4%-5% dans le long terme.
Sources et sries: voir piketty.pse.ens.fr/capital21c.

R e v e n u s d u tr a v a il e t d u c a p ita l, e n % d u r e v e n u n a tio n a l

16.0%

Graphique 6.4. Le rendement pur du capital en France, 1820-2010

14.0%
12.0%

Taux de rendement moyen

observ du capital

10.0%

Taux de rendement pur du

capital (estimation)

8.0%
6.0%
4.0%
2.0%
0.0%
Lecture: le rendement moyen observ a connu des variations plus fortes que le rendement pur du capital au 20e sicle.
Sources et sries: voir piketty.pse.ens.fr/capital21c.

Revenus du capital, en %du revenu national

40%

Graphique 6.5. La part du capital dans les pays riches, 1975-2010

35%

30%

25%

20%

15%

10%
1975

Etats-Unis

Japon

Allemagne

France

Royaume-Uni

Italie

Canada

Australie

1980
1985
1990 entre 15%1995
2000
2010
Lecture:
les revenus du
capital reprsentaient
et 25% du revenu
national dans 2005
les pays riches en
1975, et entre 25% et 35% en 2000-2010. Sources et sries: voir piketty.pse.ens.fr/capital21c

Part des profits dans la valeur ajoute

Graphique 6.6. La part des profits dans la valeur ajoute des entreprises en France, 1900-2010

60%
50%
40%

Part des profits bruts dans la valeur ajoute brute

Part des profits nets dans la valeur ajoute nette (aprs
dduction de la dprciation du capital)

30%
20%
10%
0%
Lecture: la part des profits bruts dans la valeur ajoute brute des entreprises est passe de 25% en 1982 33% en 2010; la part des profits nets dans la valeur ajoute nette de 12% 20%.
Sources et sries: voir piketty.pse.ens.fr/capital21c

Part des loyers dans le revenu national

12%
10%

Graphique 6.7. La part des loyers dans le revenu national

en France, 1900-2010

Part des loyers (nets de dprciation) dans

le revenu national

8%
6%
4%
2%
0%
Lecture: la part des loyers (valeur locative des habitations) est passe de 2% du revenu national en 1948 10% en 2010. Sources et sries: voir piketty.pse.ens.fr/capital21c.

Part du capital dans le revenu national

50%

Graphique 6.8. La part du capital dans le revenu national

en France, 1900-2010

40%

30%

20%

10%

0%
Lecture: la part des revenus du capital (profits et loyers nets) est passe de 15% du revenu national en 1982 27% en 2010. Sources et sries: voir piketty.pse.ens.fr/capital21c.

Revenus du travail et du capital, en % du revenu national

50%
45%
40%
35%

Graphique S6.1. La part du capital au Royaume-Uni, 1770-2010

Part du capital
(observe)
Part du capital pur
(estimation)

30%
25%
20%
15%
10%
5%
0%
Lecture: dans les annes 1850-1860, les revenus du capital (loyers, profits, dividendes, intrts,.) reprsentent 45% du revenu national, contre 55% pour les revenus du travail (salari et non salari). Sources et sries: voir piketty.pse.ens.fr/capital21

Revenus du travail et du capital, en %du revenu national

50%
45%
40%
35%

Graphique S6.2. La part du capital en France, 1820-2010

Part du capital
(observe)
Part du capital pur
(estimation)

30%
25%
20%
15%
10%
5%
0%
Lecture: dans les annes 1850-1860, les revenus du capital (loyers, profits, dividendes, intrts,.) reprsentent 45% du revenu national, contre 55% pour les revenus du travail (salari et non salari). Sources et sries: voir piketty.pse.ens.fr/capital21

Revenus du capital (% revenu disponible des mnages)

50%

40%

Graphique S6.3. La part du capital dans le revenu disponible

en France, 1896-2010

Part des revenus du capital (hors bnfices non distribus)

dans le revenu disponible des mnages

30%

20%

10%

0%
Lecture: les revenus du capital reprsentent 15-20% du revenu disponible des mnages dans les annes 1950-1980, et 20-25% dans les annes 1990-2010. Sources et sries: voir piketty.pse.ens.fr/capital21c.

Tableau S6.1. Le partage capital-travail au Royaume-Uni, 1770-2010

utilises pour les graphiques 6.1, 6.3 et S6.1 )

1770
1780
1790
1800
1810
1820
1830
1840
1850
1860
1870
1880
1890
1900
1910
1920
1930
1940
1950
1960
1970
1980
1990
2000
2010

(sries

Part des
revenus du
capital
(observ)

Part des
revenus du
travail
(observ)

Taux de
rendement
moyen
(observ)

Taux de rendement
pur (estimation)

Taux de
rendement
minimal

36%
35%
34%
35%
38%
40%
41%
42%
43%
43%
41%
37%
33%
35%
36%
21%
25%
28%
26%
24%
20%
21%
24%
28%
27%

64%
65%
66%
65%
62%
60%
59%
58%
57%
57%
59%
63%
67%
65%
64%
79%
75%
72%
74%
76%
80%
79%
76%
72%
73%

5.3%
5.1%
5.0%
5.1%
5.5%
5.8%
6.0%
6.1%
6.2%
6.3%
6.1%
5.5%
4.9%
5.2%
5.3%
7.4%
6.9%
10.6%
11.1%
8.4%
5.9%
5.2%
5.3%
5.6%
5.1%

4.3%
4.1%
4.0%
4.1%
4.5%
4.8%
5.0%
5.1%
4.7%
4.8%
5.1%
5.0%
4.4%
4.7%
4.3%
4.4%
4.9%
6.6%
6.1%
5.4%
3.9%
3.2%
3.3%
4.6%
4.1%

3.0%
3.0%
3.0%
3.0%
3.0%
3.0%
3.0%
3.0%
3.0%
3.0%
3.0%
3.0%
3.0%
3.0%
3.0%
3.0%
3.0%
3.0%
3.0%
3.0%
3.0%
3.0%
3.0%
3.0%
3.0%

1910-2010: decennial averages from Piketty-Zucman 2013

1770-1910: estimates from Allen 2007 Figure 2

Part du capital pur Part du capital

(estimation)
minimal

29.2%
28.2%
27.2%
28.2%
31.1%
33.1%
34.1%
35.1%
32.6%
32.8%
34.3%
33.6%
29.6%
31.6%
29.2%
12.8%
17.8%
17.3%
14.4%
15.3%
12.9%
12.9%
15.2%
22.8%
21.4%

20.4%
20.4%
20.4%
20.4%
20.6%
20.6%
20.6%
20.6%
20.8%
20.5%
20.2%
20.3%
20.3%
20.3%
20.4%
8.6%
10.8%
7.8%
7.0%
8.5%
10.0%
11.9%
13.9%
14.8%
15.7%

Revenus du
capital (PZ
2013)

32%
32%
31%
32%
36%
37%
21%
25%
28%
26%
24%
20%
21%
24%
28%
27%

Memo: Revenus
du capital y
compris intrts
publics

34%
34%
33%
33%
36%
38%
28%
30%
32%
30%
27%
22%
24%
27%
30%
29%

Allen 2007 figure

2 (profit share)

Allen 2007 figure

2 (land rent
share)

20%
20%
20%
22%
26%
30%
32%
35%
38%
40%
40%
38%
36%
40%
42%

21%
20%
19%
18%
17%
15%
14%
12%
10%
8%
6%
4%
3%
3%
2%

National wealth/
National income
ratio (TS3.1TS4.5)
1770
1780
1790
1800
1810
1820
1830
1840
1850
1860
1870
1880
1890
1900
1910
1920
1930
1940
1950
1960
1970
1980
1990
2000
2010

681%
681%
681%
681%
687%
687%
687%
687%
694%
683%
672%
676%
676%
676%
679%
288%
361%
261%
235%
284%
333%
398%
462%
492%
523%

Tableau S6.2. Le partage capital-travail en France, 1820-2010

graphiques 6.2, 6.4 et S6.2)

1820
1830
1840
1850
1860
1870
1880
1890
1900
1910
1920
1930
1940
1950
1960
1970
1980
1990
2000
2010

(sries utilises pour les

Part des
revenus du
capital
(observ)

Part des
revenus du
travail
(observ)

Taux de
rendement
moyen
(observ)

Taux de rendement
pur (estimation)

Taux de
rendement
minimal

30%
35%
37%
43%
43%
42%
30%
26%
26%
34%
29%
28%
14%
23%
23%
21%
19%
24%
25%
26%

70%
65%
63%
57%
57%
58%
70%
74%
74%
66%
71%
72%
86%
77%
77%
79%
81%
76%
75%
74%

5.8%
6.2%
6.7%
7.4%
7.1%
6.8%
4.5%
4.1%
4.2%
5.6%
9.8%
8.3%
6.4%
10.9%
8.7%
7.3%
6.7%
8.1%
5.9%
4.7%

4.8%
5.2%
5.7%
6.1%
5.8%
5.8%
4.0%
3.6%
3.7%
4.6%
6.8%
6.3%
5.4%
6.9%
5.7%
5.3%
4.7%
6.1%
4.9%
3.7%

3.0%
3.0%
3.0%
3.0%
3.0%
3.0%
3.0%
3.0%
3.0%
3.0%
3.0%
3.0%
3.0%
3.0%
3.0%
3.0%
3.0%
3.0%
3.0%
3.0%

All series are extracted from Piketty 2010 appendix table A12 (link broken on 8-2-2013)
1700-1820
1820-1913
1913-1950
1950-2012
1990-2012
Moyennes sculaires utilises dans chapitre 10

5.1%
4.9%
5.1%
5.3%
4.3%

Memo: Revenus
Part du capital pur Part du capital
du capital y
(estimation)
minimal
compris intrts
publics
25%
29%
31%
36%
35%
35%
27%
22%
23%
28%
20%
21%
12%
15%
15%
15%
13%
18%
20%
20%

15%
17%
16%
18%
18%
18%
20%
19%
19%
18%
9%
10%
7%
6%
8%
9%
9%
9%
12%
17%

32%
37%
39%
46%
46%
44%
32%
28%
28%
36%
35%
33%
14%
23%
23%
21%
20%
27%
27%
29%

Tableau S6.3. La part du capital dans les pays riches, 1970-2010

utilises pour le graphique 6.5)

1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010

(sries

Etats-Unis

Japon

Allemagne

France

Royaume-Uni

Italie

Canada

Australie

21%
21%
22%
21%
20%
21%
21%
22%
22%
21%
20%
22%
21%
23%
24%
24%
22%
23%
23%
23%
23%
23%
22%
23%
24%
25%
26%
26%
25%
25%
24%
23%
23%
23%
25%
26%
27%
26%
24%
26%
29%

36%
32%
32%
30%
26%
23%
24%
24%
26%
26%
27%
26%
26%
26%
27%
28%
28%
29%
30%
30%
30%
29%
27%
26%
24%
24%
25%
25%
23%
24%
25%
24%
25%
26%
28%
29%
29%
30%
28%
26%
27%

23%
22%
21%
20%
19%
19%
20%
20%
20%
20%
19%
18%
19%
20%
22%
22%
23%
21%
23%
25%
25%
23%
22%
21%
23%
23%
24%
25%
26%
25%
24%
24%
25%
26%
29%
31%
33%
34%
32%
29%
31%

24%
24%
23%
24%
23%
18%
18%
18%
16%
17%
16%
16%
15%
15%
17%
18%
22%
23%
25%
26%
25%
24%
24%
23%
24%
24%
23%
24%
25%
25%
25%
24%
23%
23%
23%
23%
24%
25%
25%
24%
25%

23%
21%
22%
22%
23%
17%
14%
16%
19%
20%
18%
16%
16%
19%
22%
23%
24%
23%
24%
24%
23%
21%
19%
20%
23%
26%
26%
28%
29%
29%
26%
25%
25%
27%
28%
29%
29%
29%
30%
30%
27%

29%
26%
26%
27%
27%
24%
25%
24%
26%
27%
28%
26%
26%
26%
28%
28%
30%
30%
31%
31%
29%
28%
28%
28%
30%
33%
33%
33%
33%
34%
34%
35%
34%
33%
34%
33%
32%
32%
30%
28%
29%

21%
21%
22%
24%
25%
24%
23%
22%
24%
25%
26%
24%
22%
25%
26%
26%
24%
25%
25%
24%
21%
19%
18%
19%
22%
24%
24%
25%
24%
25%
28%
27%
27%
28%
29%
30%
30%
30%
31%
24%
26%

23%
22%
21%
22%
20%
17%
17%
18%
18%
20%
21%
21%
20%
20%
23%
22%
22%
23%
25%
25%
23%
21%
23%
25%
25%
25%
24%
24%
24%
24%
25%
24%
25%
25%
26%
24%
25%
24%
25%
28%
27%

Series extracted from Piketty-Zucman 2013 (link frozen on 17-3-2013)

Europe
25%
23%
23%
23%
23%
20%
19%
19%
20%
21%
20%
19%
19%
20%
22%
23%
25%
24%
26%
26%
26%
24%
23%
23%
25%
26%
27%
27%
28%
28%
27%
27%
27%
27%
28%
29%
29%
30%
29%
28%
28%

Tableau S6.4. La part du capital en France 1896-2010

(sries utilises pour les graphiques 6.6-6.8 et S6.3)

Part des loyers dans

le revenu national

1896
1897
1898
1899
1900
1901
1902
1903
1904
1905
1906
1907
1908
1909
1910
1911
1912
1913
1914
1915
1916
1917
1918
1919
1920
1921
1922
1923
1924
1925
1926
1927
1928
1929
1930
1931
1932
1933
1934
1935
1936
1937
1938
1939
1940
1941
1942
1943
1944
1945
1946
1947
1948
1949
1950
1951
1952

8%
8%
8%
8%
8%
8%
8%
8%
8%
8%
8%
8%
8%
8%
8%
8%
8%
8%
8%
7%
6%
6%
5%
4%
3%
4%
5%
4%
4%
4%
4%
4%
4%
5%
5%
6%
7%
7%
7%
7%
6%
5%
5%
5%
4%
4%
4%
4%
4%
2%
2%
2%
2%
3%
3%
3%
3%

Part des profits bruts Part des profits nets

Part du capital dans le
dans la valeur ajoute dans la valeur ajoute
revenu national
brute
nette
25%
22%
24%
25%
28%
23%
25%
25%
25%
29%
25%
32%
28%
30%
28%
33%
40%
39%
26%
23%
36%
37%
31%
37%
37%
35%
37%
38%
39%
39%
40%
41%
40%
39%
37%
36%
32%
34%
33%
34%
32%
34%
35%
37%
34%
31%
28%
23%
16%
20%
26%
23%
27%
30%
34%
33%
30%

16%
13%
15%
17%
19%
13%
14%
15%
15%
19%
14%
23%
17%
20%
17%
24%
33%
31%
13%
9%
23%
25%
19%
26%
25%
25%
28%
30%
30%
31%
31%
32%
32%
30%
27%
25%
20%
23%
21%
23%
22%
22%
23%
27%
24%
19%
15%
10%
2%
4%
14%
11%
16%
22%
27%
25%
21%

27%
25%
26%
28%
30%
25%
26%
26%
26%
30%
26%
34%
29%
32%
29%
35%
42%
40%
25%
20%
31%
33%
27%
34%
35%
35%
38%
40%
40%
40%
40%
40%
39%
38%
35%
33%
30%
32%
32%
34%
33%
31%
32%
32%
25%
21%
17%
12%
6%
5%
14%
12%
15%
23%
27%
25%
21%

Part du capital dans le

revenu disponible
(hors bnfices non
distribus)
25%
24%
25%
26%
28%
25%
25%
25%
25%
27%
25%
30%
27%
29%
28%
31%
35%
34%
22%
18%
24%
25%
20%
26%
25%
25%
27%
28%
28%
29%
29%
29%
28%
28%
26%
24%
21%
22%
23%
25%
24%
23%
24%
24%
18%
15%
13%
10%
4%
2%
9%
7%
9%
17%
19%
18%
16%

1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010

3%
3%
3%
3%
3%
3%
3%
4%
4%
4%
4%
4%
5%
5%
5%
5%
5%
5%
5%
5%
5%
5%
5%
5%
5%
5%
5%
5%
5%
5%
6%
6%
6%
6%
6%
6%
7%
7%
7%
8%
8%
8%
8%
8%
8%
8%
8%
8%
8%
9%
9%
9%
9%
9%
9%
9%
10%
10%

31%
30%
30%
30%
30%
31%
32%
33%
32%
30%
29%
29%
30%
30%
30%
30%
31%
32%
32%
31%
32%
32%
28%
28%
28%
27%
26%
26%
25%
25%
26%
28%
29%
33%
33%
35%
35%
34%
33%
33%
32%
33%
33%
32%
33%
34%
33%
33%
33%
32%
33%
33%
32%
32%
33%
33%
32%
33%

23%
22%
23%
22%
23%
23%
23%
24%
23%
21%
20%
21%
21%
22%
22%
21%
24%
23%
24%
23%
24%
23%
18%
17%
17%
16%
15%
14%
12%
12%
13%
15%
17%
22%
22%
24%
25%
23%
22%
22%
21%
21%
22%
21%
22%
23%
22%
22%
21%
20%
21%
20%
20%
20%
20%
20%
19%
20%

All series are extracted from Piketty 2010 appendix table A6 (link broken on 8-2-2013)

23%
23%
23%
22%
23%
23%
23%
25%
24%
22%
21%
22%
22%
23%
23%
23%
25%
24%
24%
23%
24%
23%
19%
18%
19%
17%
17%
16%
16%
15%
16%
18%
20%
23%
24%
26%
27%
26%
26%
26%
26%
26%
26%
26%
27%
28%
28%
28%
27%
25%
26%
26%
26%
26%
27%
26%
26%
27%

18%
18%
17%
17%
17%
17%
17%
17%
17%
17%
16%
16%
16%
16%
17%
17%
17%
18%
17%
17%
17%
18%
16%
16%
16%
15%
16%
15%
17%
16%
17%
17%
18%
18%
19%
19%
20%
20%
21%
21%
22%
21%
22%
22%
22%
21%
20%
21%
21%
21%
21%
21%
21%
22%
22%
22%
21%
23%

Table S6.4: Structure of national income in France, 1896-2008: decomposition by production sectors

1896
1897
1898
1899
1900
1901
1902
1903
1904
1905
1906
1907
1908
1909
1910
1911
1912
1913
1914
1915
1916
1917
1918
1919
1920
1921
1922
1923
1924
1925
1926
1927
1928
1929
1930
1931
1932
1933
1934
1935
1936
1937
1938
1939
1940
1941
1942
1943
1944
1945
1946
1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977

[1]

[2]

[3]
[4]
% national income Yt

[5]

[6]

[7]

[8]

Housing
sector

Self-employment
sector

Corporate
sector

Yht

Yset

7%
7%
7%
7%
7%
7%
7%
7%
7%
7%
7%
7%
7%
7%
7%
7%
7%
7%
8%
7%
6%
5%
5%
4%
3%
3%
4%
4%
4%
4%
4%
4%
4%
4%
5%
5%
6%
6%
6%
6%
5%
5%
4%
4%
4%
4%
4%
4%
3%
2%
2%
2%
1%
3%
3%
2%
2%
2%
3%
3%
3%
3%
3%
3%
3%
3%
3%
4%
4%
4%
4%
4%
4%
4%
4%
4%
4%
4%
4%
4%
4%
4%

52%
51%
51%
51%
50%
50%
49%
50%
50%
49%
48%
48%
48%
47%
46%
46%
46%
45%
46%
42%
45%
44%
44%
43%
46%
45%
46%
47%
46%
47%
47%
45%
45%
44%
41%
38%
38%
38%
36%
37%
40%
41%
39%
41%
39%
39%
38%
37%
34%
37%
38%
36%
37%
35%
34%
33%
32%
31%
31%
30%
29%
28%
28%
27%
27%
26%
26%
25%
24%
23%
23%
23%
23%
21%
21%
20%
20%
19%
18%
17%
16%
16%

[9]
[10]
[11]
% factor-price national income Yt - Tpt

[12]

Govt sector

Foreign
sector

Production
taxes

Housing
sector

Self-employment
sector

Corporate
sector

Govt sector

Foreign
sector

Production
tax rate

Yct

Ygt

FYt

Tpt

Yht

Yset

Yct

Ygt

FYt

Tpt

28%
29%
29%
30%
30%
30%
31%
31%
30%
31%
31%
32%
32%
33%
33%
33%
34%
35%
30%
28%
30%
33%
34%
37%
40%
40%
38%
37%
39%
38%
36%
36%
36%
37%
40%
40%
39%
40%
39%
38%
37%
38%
37%
35%
38%
38%
39%
40%
42%
39%
39%
40%
38%
37%
37%
39%
38%
39%
39%
41%
42%
42%
42%
42%
43%
44%
43%
43%
44%
45%
45%
45%
45%
47%
48%
49%
49%
50%
51%
51%
51%
51%

2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
6%
15%
11%
11%
12%
9%
4%
4%
4%
3%
3%
3%
3%
3%
3%
3%
3%
4%
5%
4%
5%
5%
5%
5%
6%
8%
9%
9%
9%
9%
10%
10%
10%
10%
10%
10%
11%
11%
11%
11%
11%
11%
11%
11%
11%
11%
11%
11%
11%
12%
12%
11%
11%
11%
12%
12%
12%
12%
12%
12%
13%
14%
14%
15%

3%
3%
3%
3%
3%
3%
3%
3%
3%
4%
4%
4%
4%
4%
4%
4%
4%
4%
4%
4%
3%
2%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
0%
1%
2%
2%
2%
2%
2%
0%
0%
0%
0%
0%
0%
0%
0%
0%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%

7%
7%
7%
7%
7%
7%
7%
7%
7%
7%
7%
7%
7%
7%
7%
7%
6%
7%
5%
5%
5%
5%
4%
5%
6%
7%
7%
7%
7%
8%
10%
11%
11%
11%
10%
11%
12%
12%
12%
12%
11%
9%
11%
10%
11%
11%
10%
10%
10%
11%
12%
13%
13%
14%
14%
15%
16%
16%
15%
15%
14%
15%
15%
16%
16%
16%
16%
16%
16%
16%
16%
16%
14%
15%
14%
14%
14%
14%
13%
14%
14%
13%

8%
8%
8%
8%
8%
8%
8%
8%
8%
8%
8%
8%
8%
8%
8%
8%
8%
8%
8%
7%
6%
6%
5%
4%
3%
4%
5%
4%
4%
4%
4%
4%
4%
5%
5%
6%
7%
7%
7%
7%
6%
5%
5%
5%
4%
4%
4%
4%
4%
2%
2%
2%
2%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
4%
4%
4%
4%
4%
5%
5%
5%
5%
5%
5%
5%
5%
5%
5%
5%
5%
5%

56%
55%
55%
55%
54%
54%
53%
53%
54%
53%
52%
51%
52%
51%
50%
50%
49%
48%
49%
44%
48%
46%
45%
46%
49%
48%
49%
50%
50%
51%
52%
51%
51%
49%
45%
43%
43%
43%
41%
42%
45%
46%
44%
46%
44%
43%
42%
41%
38%
42%
43%
41%
42%
41%
40%
38%
38%
37%
36%
35%
34%
33%
33%
32%
32%
30%
31%
29%
28%
28%
28%
28%
27%
25%
24%
23%
23%
22%
20%
20%
19%
18%

31%
31%
31%
32%
33%
32%
33%
33%
32%
34%
34%
35%
34%
35%
35%
36%
37%
37%
32%
29%
31%
35%
36%
39%
42%
42%
41%
40%
42%
41%
40%
40%
40%
41%
44%
45%
44%
45%
45%
44%
41%
42%
42%
39%
42%
42%
43%
44%
47%
44%
44%
45%
44%
43%
44%
45%
45%
46%
46%
48%
49%
49%
49%
50%
50%
52%
51%
51%
52%
53%
53%
53%
53%
55%
56%
57%
57%
58%
59%
59%
59%
59%

3%
3%
2%
2%
2%
2%
2%
2%
2%
2%
3%
2%
2%
3%
3%
3%
2%
2%
7%
16%
12%
11%
12%
10%
4%
4%
4%
4%
3%
3%
3%
3%
3%
3%
4%
5%
5%
5%
6%
5%
5%
5%
6%
9%
10%
10%
10%
11%
11%
11%
11%
12%
12%
12%
12%
13%
13%
13%
13%
13%
13%
13%
13%
14%
13%
13%
14%
14%
14%
14%
13%
13%
14%
14%
14%
14%
14%
14%
15%
16%
17%
17%

3%
3%
3%
3%
4%
4%
4%
4%
4%
4%
4%
4%
4%
4%
5%
4%
4%
5%
5%
4%
3%
2%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
2%
2%
1%
1%
1%
1%
2%
2%
2%
3%
2%
0%
0%
0%
0%
0%
0%
0%
0%
0%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%

7%
8%
8%
7%
7%
7%
7%
7%
7%
7%
7%
7%
7%
7%
8%
8%
7%
7%
5%
5%
5%
6%
4%
5%
7%
7%
8%
8%
8%
8%
11%
12%
12%
13%
11%
13%
14%
14%
14%
14%
12%
10%
12%
12%
12%
12%
12%
12%
12%
13%
14%
15%
16%
16%
17%
18%
19%
19%
18%
17%
17%
17%
18%
19%
19%
18%
18%
19%
19%
19%
19%
18%
17%
17%
16%
16%
16%
16%
15%
16%
17%
15%

1978
1979
1980
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010

4%
4%
4%
5%
5%
5%
5%
5%
5%
5%
6%
6%
6%
6%
6%
7%
7%
7%
7%
7%
7%
7%
7%
7%
7%
7%
7%
8%
8%
8%
8%

16%
16%
15%
15%
15%
15%
14%
14%
13%
12%
12%
12%
12%
12%
11%
11%
11%
10%
10%
10%
10%
10%
10%
10%
10%
10%
9%
9%
9%
9%
9%

50%
49%
50%
49%
49%
50%
50%
50%
51%
52%
52%
52%
52%
52%
52%
51%
50%
50%
49%
50%
50%
50%
50%
50%
51%
51%
51%
51%
51%
51%
51%

15%
15%
15%
16%
16%
16%
17%
16%
16%
16%
15%
15%
15%
15%
15%
16%
16%
16%
17%
16%
16%
16%
16%
16%
17%
17%
16%
16%
16%
16%
16%

0%
1%
1%
1%
1%
0%
0%
0%
0%
0%
1%
1%
1%
1%
1%
1%
1%
0%
1%
1%
1%
2%
1%
1%
0%
0%
1%
0%
1%
1%
1%

All series are extracted from Piketty 2010 appendix table A6 (link broken on 8-2-2013)

14%
15%
15%
14%
15%
15%
15%
15%
14%
15%
15%
15%
15%
15%
14%
15%
15%
16%
16%
16%
16%
16%
15%
15%
15%
15%
15%
16%
16%
15%
15%

5%
5%
5%
5%
5%
6%
6%
6%
6%
6%
6%
7%
7%
7%
8%
8%
8%
8%
8%
8%
8%
8%
8%
8%
9%
9%
9%
9%
9%
9%
9%
10%
10%

19%
18%
18%
17%
17%
17%
16%
16%
15%
14%
14%
14%
14%
14%
13%
13%
13%
12%
12%
12%
12%
12%
11%
12%
12%
11%
11%
11%
11%
11%
11%

58%
58%
58%
58%
58%
58%
59%
59%
60%
60%
61%
61%
61%
61%
61%
60%
59%
60%
59%
59%
60%
59%
59%
59%
60%
60%
60%
60%
60%
60%
60%

18%
18%
18%
18%
19%
19%
19%
19%
19%
18%
18%
17%
17%
18%
18%
19%
19%
19%
20%
20%
19%
19%
19%
19%
20%
19%
19%
19%
19%
19%
19%

0%
1%
1%
1%
1%
0%
0%
0%
0%
0%
1%
1%
1%
1%
1%
1%
1%
0%
1%
1%
1%
2%
2%
2%
0%
0%
1%
0%
1%
1%
1%

17%
18%
17%
17%
17%
17%
17%
17%
17%
17%
17%
17%
17%
17%
17%
17%
18%
18%
19%
20%
19%
19%
18%
18%
18%
18%
18%
19%
18%
18%
18%

Table S6.5: Structure of national income in France, 1896-2008: profits & wages in the corporate sector
[1]

Wage

share

(wages & social

contributions)

1896
1897
1898
1899
1900
1901
1902
1903
1904
1905
1906
1907
1908
1909
1910
1911
1912
1913
1914
1915
1916
1917
1918
1919
1920
1921
1922
1923
1924
1925
1926
1927
1928
1929
1930
1931
1932
1933
1934
1935
1936
1937
1938
1939
1940
1941
1942
1943
1944
1945
1946
1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982

[2]

[3]
[4]
% net corporate product Yct

Profit
share (net
profits)

YLct

YKct

84%
87%
85%
83%
81%
87%
86%
85%
85%
81%
86%
77%
83%
80%
83%
76%
67%
69%
87%
91%
77%
75%
81%
74%
75%
75%
72%
70%
70%
69%
69%
68%
68%
70%
73%
75%
80%
77%
79%
77%
78%
78%
77%
73%
76%
81%
85%
90%
103%
101%
86%
89%
84%
78%
73%
75%
79%
77%
78%
77%
78%
77%
77%
77%
76%
77%
79%
80%
79%
79%
78%
78%
79%
76%
77%
76%
77%
76%
77%
82%
83%
83%
84%
85%
86%
88%
88%

16%
13%
15%
17%
19%
13%
14%
15%
15%
19%
14%
23%
17%
20%
17%
24%
33%
31%
13%
9%
23%
25%
19%
26%
25%
25%
28%
30%
30%
31%
31%
32%
32%
30%
27%
25%
20%
23%
21%
23%
22%
22%
23%
27%
24%
19%
15%
10%
2%
4%
14%
11%
16%
22%
27%
25%
21%
23%
22%
23%
22%
23%
23%
23%
24%
23%
21%
20%
21%
21%
22%
22%
21%
24%
23%
24%
23%
24%
23%
18%
17%
17%
16%
15%
14%
12%
12%

[5]

[6]

including
corporate
income taxes

including
distributed
profits (interest
& dividend
payments)

including
retained
earnings

including other
corporate
transfers

0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
1%
2%
2%
2%
3%
3%
3%
3%
5%
4%
4%
4%
4%
5%
3%
4%
3%
2%
2%
3%
3%
2%
2%
2%
2%
1%
1%
3%
2%
2%
4%
4%
5%
5%
5%
5%
5%
5%
5%
6%
6%
6%
5%
5%
4%
4%
4%
4%
4%
4%
4%
5%
5%
5%
5%
6%
4%
5%
5%
4%
4%
5%
5%
5%

14%
14%
14%
14%
16%
15%
15%
15%
15%
14%
16%
16%
16%
16%
18%
18%
17%
18%
8%
7%
11%
11%
8%
12%
9%
8%
8%
8%
9%
11%
11%
11%
11%
11%
10%
8%
6%
7%
9%
9%
10%
9%
10%
10%
10%
9%
7%
5%
4%
2%
2%
2%
2%
7%
8%
8%
8%
9%
9%
9%
8%
8%
8%
8%
8%
8%
8%
8%
8%
7%
8%
8%
8%
8%
9%
10%
10%
10%
11%
11%
10%
9%
9%
9%
8%
10%
10%

2%
-1%
1%
3%
3%
-2%
-1%
0%
0%
4%
-2%
7%
1%
4%
-1%
6%
16%
13%
5%
2%
12%
14%
10%
13%
15%
14%
18%
19%
18%
17%
18%
17%
17%
15%
13%
12%
8%
12%
9%
11%
11%
11%
10%
14%
11%
8%
7%
3%
-3%
1%
9%
7%
12%
8%
12%
9%
5%
5%
5%
7%
6%
7%
6%
7%
8%
7%
5%
5%
6%
7%
7%
8%
7%
8%
6%
6%
5%
7%
2%
0%
-1%
1%
-1%
-1%
-3%
-5%
-7%

0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%

[7]

[8]

[9]

[10]

[11]
[12]
% national income Yt

memo:
Corporate
memo:
Gross profit wages & social Net corporate
Wage share
including
profits
share in
contribut.
corporate
in gross
gross
income taxes
corporate
corporate
product
product
YLct
YKct
75%
78%
76%
75%
72%
77%
75%
75%
75%
71%
75%
68%
72%
70%
72%
67%
60%
61%
74%
77%
64%
63%
69%
63%
63%
65%
63%
62%
61%
61%
60%
59%
60%
61%
63%
64%
68%
66%
67%
66%
68%
66%
65%
63%
66%
69%
72%
77%
89%
85%
74%
77%
73%
70%
66%
67%
70%
69%
70%
70%
70%
70%
69%
68%
67%
68%
70%
71%
71%
70%
70%
70%
70%
69%
68%
68%
69%
68%
68%
72%
72%
72%
73%
74%
74%
75%
75%

25%
22%
24%
25%
28%
23%
25%
25%
25%
29%
25%
32%
28%
30%
28%
33%
40%
39%
26%
23%
36%
37%
31%
37%
37%
35%
37%
38%
39%
39%
40%
41%
40%
39%
37%
36%
32%
34%
33%
34%
32%
34%
35%
37%
34%
31%
28%
23%
16%
20%
26%
23%
27%
30%
34%
33%
30%
31%
30%
30%
30%
30%
31%
32%
33%
32%
30%
29%
29%
30%
30%
30%
30%
31%
32%
32%
31%
32%
32%
28%
28%
28%
27%
26%
26%
25%
25%

24%
25%
25%
25%
25%
26%
27%
26%
26%
26%
27%
25%
26%
26%
27%
25%
23%
24%
26%
25%
23%
25%
28%
27%
30%
30%
27%
26%
27%
26%
25%
24%
24%
26%
29%
30%
31%
31%
31%
30%
29%
30%
29%
25%
29%
31%
33%
36%
43%
40%
33%
35%
32%
29%
27%
29%
30%
30%
31%
31%
33%
32%
32%
32%
32%
33%
34%
34%
35%
35%
35%
35%
36%
36%
37%
37%
38%
38%
40%
42%
42%
42%
42%
42%
43%
43%
43%

5%
4%
4%
5%
6%
4%
4%
5%
4%
6%
4%
7%
5%
7%
6%
8%
11%
11%
4%
2%
7%
8%
6%
9%
10%
10%
10%
11%
12%
12%
11%
12%
11%
11%
11%
10%
8%
9%
8%
9%
8%
8%
9%
9%
9%
7%
6%
4%
-1%
0%
5%
5%
6%
8%
10%
10%
8%
9%
9%
9%
9%
9%
10%
10%
10%
10%
9%
9%
9%
10%
10%
10%
10%
11%
11%
12%
11%
12%
12%
9%
9%
9%
8%
7%
7%
6%
6%

0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
1%
1%
1%
1%
1%
1%
1%
2%
1%
1%
2%
2%
2%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
0%
1%
1%
1%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
3%
2%
3%
2%
2%
2%
2%
2%
3%

[13]

[14]

including
distributed
profits (net
interest &
dividend)

including
retained
earnings

including other
corporate
transfers

4%
4%
4%
4%
5%
5%
5%
5%
5%
5%
5%
5%
5%
5%
6%
6%
6%
6%
3%
2%
3%
4%
3%
5%
4%
3%
3%
3%
4%
4%
4%
4%
4%
4%
4%
3%
3%
3%
3%
3%
4%
3%
4%
3%
4%
3%
3%
2%
2%
1%
1%
1%
1%
3%
3%
3%
3%
4%
4%
3%
3%
3%
3%
3%
3%
4%
4%
3%
3%
3%
3%
3%
3%
4%
4%
5%
5%
5%
6%
5%
5%
5%
4%
4%
4%
5%
5%

1%
0%
0%
1%
1%
-1%
0%
0%
0%
1%
-1%
2%
0%
1%
0%
2%
5%
4%
1%
0%
4%
5%
4%
5%
6%
6%
7%
7%
7%
7%
6%
6%
6%
5%
5%
5%
3%
5%
4%
4%
4%
4%
4%
5%
4%
3%
3%
1%
-3%
-2%
4%
3%
4%
3%
4%
3%
2%
2%
2%
3%
2%
3%
3%
3%
3%
3%
2%
2%
3%
3%
3%
3%
3%
4%
3%
3%
3%
3%
1%
0%
0%
0%
0%
-1%
-1%
-3%
-3%

0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
2%
2%
2%
2%
2%
2%
2%
2%
1%
2%
2%
2%
2%
2%

1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010

87%
85%
83%
78%
78%
76%
75%
77%
78%
78%
79%
79%
78%
79%
78%
77%
78%
78%
79%
80%
79%
80%
80%
80%
80%
80%

13%
15%
17%
22%
22%
24%
25%
23%
22%
22%
21%
21%
22%
21%
22%
23%
22%
22%
21%
20%
21%
20%
20%
20%
20%
20%
19%
20%

5%
4%
4%
5%
5%
5%
5%
5%
4%
3%
4%
4%
4%
5%
5%
5%
6%
6%
7%
5%
5%
5%
5%
6%
6%
6%

11%
11%
11%
10%
10%
9%
10%
10%
11%
11%
11%
10%
11%
10%
9%
9%
7%
8%
9%
11%
10%
10%
10%
10%
10%
11%

-6%
-3%
-1%
5%
5%
8%
7%
6%
4%
5%
4%
5%
4%
3%
5%
6%
6%
4%
2%
1%
3%
1%
1%
0%
1%
-1%

3%
3%
3%
3%
3%
3%
3%
2%
3%
3%
3%
2%
2%
3%
2%
3%
3%
3%
3%
3%
3%
3%
4%
4%
4%
4%

All series are extracted from Piketty 2010 appendix table A7 (link broken on 8-2-2013)

74%
72%
71%
67%
67%
65%
65%
66%
67%
67%
68%
67%
67%
68%
67%
66%
67%
67%
67%
68%
67%
67%
68%
68%
67%
67%

26%
28%
29%
33%
33%
35%
35%
34%
33%
33%
32%
33%
33%
32%
33%
34%
33%
33%
33%
32%
33%
33%
32%
32%
33%
33%
32%
33%

43%
42%
42%
40%
40%
40%
39%
40%
40%
40%
40%
40%
39%
39%
39%
39%
39%
39%
40%
41%
41%
41%
41%
41%
41%
41%

6%
8%
8%
11%
11%
13%
13%
12%
12%
11%
11%
11%
11%
10%
11%
11%
11%
11%
10%
10%
11%
10%
10%
10%
10%
10%

2%
2%
2%
2%
3%
3%
3%
3%
2%
2%
2%
2%
2%
2%
2%
3%
3%
3%
3%
3%
2%
3%
3%
3%
3%
3%

5%
5%
5%
5%
5%
5%
5%
5%
6%
6%
6%
5%
6%
5%
5%
5%
4%
4%
4%
5%
5%
5%
5%
5%
5%
5%

-3%
-2%
-1%
2%
3%
4%
4%
3%
2%
3%
2%
3%
2%
2%
2%
3%
3%
2%
1%
0%
2%
1%
0%
0%
0%
0%

2%
2%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
2%
2%
2%
2%
2%
2%
2%
2%
2%

Table S6.6: Structure of national income in France, 1896-2008: capital & labor shares in national income
[1]

[2]

[3]

[4]

[5]

[6]

[7]

[8]

[9]

[10]

[11]

[12]

1896
1897
1898
1899
1900
1901
1902
1903
1904
1905
1906
1907
1908
1909
1910
1911
1912
1913
1914
1915
1916
1917
1918
1919
1920
1921
1922
1923
1924
1925
1926
1927
1928
1929
1930
1931
1932
1933
1934
1935
1936
1937
1938
1939
1940
1941
1942
1943
1944
1945
1946
1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977

including
corporate
capital
income (net
corporate
profits)

YKt*

YKct

Yht

YKset

FYKt

YKgt

25%
23%
24%
26%
28%
23%
24%
25%
25%
28%
24%
32%
27%
30%
27%
32%
39%
37%
24%
19%
29%
31%
26%
33%
33%
33%
35%
37%
37%
36%
36%
36%
35%
34%
32%
30%
26%
28%
28%
30%
29%
28%
28%
29%
22%
19%
16%
11%
4%
3%
12%
10%
13%
20%
23%
21%
18%
19%
19%
20%
19%
20%
20%
19%
21%
20%
19%
18%
18%
19%
19%
20%
20%
21%
21%
21%
20%
21%
20%
16%
16%
16%

5%
4%
4%
5%
6%
4%
4%
5%
4%
6%
4%
7%
5%
7%
6%
8%
11%
11%
4%
2%
7%
8%
6%
9%
10%
10%
10%
11%
12%
12%
11%
12%
11%
11%
11%
10%
8%
9%
8%
9%
8%
8%
9%
9%
9%
7%
6%
4%
1%
2%
5%
5%
6%
8%
10%
10%
8%
9%
9%
9%
9%
9%
10%
10%
10%
10%
9%
9%
9%
10%
10%
10%
10%
11%
11%
12%
11%
12%
12%
9%
9%
9%

7%
7%
7%
7%
7%
7%
7%
7%
7%
7%
7%
7%
7%
7%
7%
7%
7%
7%
8%
7%
6%
5%
5%
4%
3%
3%
4%
4%
4%
4%
4%
4%
4%
4%
5%
5%
6%
6%
6%
6%
5%
5%
4%
4%
4%
4%
4%
4%
3%
2%
2%
2%
1%
3%
3%
2%
2%
2%
3%
3%
3%
3%
3%
3%
3%
3%
3%
4%
4%
4%
4%
4%
4%
4%
4%
4%
4%
4%
4%
4%
4%
4%

8%
7%
7%
9%
10%
7%
7%
7%
7%
9%
7%
11%
8%
10%
8%
11%
15%
14%
6%
4%
11%
11%
8%
11%
12%
11%
13%
14%
14%
15%
15%
15%
14%
13%
11%
9%
7%
9%
8%
9%
9%
9%
9%
11%
9%
7%
6%
4%
0%
0%
5%
4%
6%
8%
9%
8%
7%
7%
7%
7%
6%
6%
6%
6%
7%
6%
5%
5%
5%
5%
5%
5%
5%
5%
5%
5%
5%
5%
4%
3%
3%
3%

3%
3%
3%
3%
3%
3%
3%
3%
3%
4%
4%
4%
4%
4%
4%
4%
4%
4%
4%
4%
3%
2%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
0%
1%
2%
2%
2%
2%
2%
0%
0%
0%
0%
0%
0%
0%
0%
0%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
0%
0%
1%
0%
0%
0%

2%
2%
2%
2%
2%
3%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
3%
4%
5%
5%
7%
7%
8%
6%
7%
6%
5%
5%
5%
4%
4%
4%
4%
4%
4%
5%
5%
5%
4%
4%
3%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
-1%
-1%
-1%
-1%
-1%
0%
0%
0%

including
including
including net
housing
capital share
plus: net govt
foreign
capital
of selfinterest
capital
income (net employmt net
payments
income
rents)
income

memo:
personal
interest
payments

0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
2%
3%
2%
2%
2%

[14]

[15]

[16]

% factor-price national income

Yt - Tpt

% national income Yt

Total
capital
income

[13]

Total
labour
income

including
including
including
labor share including net
labor income
labor income
of selfforeign labor
paid by
paid by govt employmt net
income
corporati.
income

Capital
share

Labour
share

Capital
share
(excl. govt
interest)

Labour
share

YLt

YLct

Ygt

YLset

FYLt

YKt*

YLt

YKt

YLt

70%
72%
71%
69%
67%
72%
71%
71%
71%
68%
71%
64%
68%
66%
68%
63%
56%
57%
73%
79%
69%
69%
75%
69%
68%
68%
64%
63%
62%
61%
59%
58%
58%
59%
62%
63%
66%
64%
64%
63%
65%
67%
65%
63%
67%
71%
74%
78%
88%
87%
76%
77%
73%
67%
63%
64%
67%
65%
66%
66%
67%
66%
65%
65%
64%
65%
66%
66%
65%
65%
65%
65%
66%
64%
65%
65%
66%
65%
66%
70%
70%
70%

24%
25%
25%
25%
25%
26%
27%
26%
26%
26%
27%
25%
26%
26%
27%
25%
23%
24%
26%
25%
23%
25%
28%
27%
30%
30%
27%
26%
27%
26%
25%
24%
24%
26%
29%
30%
31%
31%
31%
30%
29%
30%
29%
25%
29%
31%
33%
36%
43%
40%
33%
35%
32%
29%
27%
29%
30%
30%
31%
31%
33%
32%
32%
32%
32%
33%
34%
34%
35%
35%
35%
35%
36%
36%
37%
37%
38%
38%
40%
42%
42%
42%

2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
6%
15%
11%
11%
12%
9%
4%
4%
4%
3%
3%
3%
3%
3%
3%
3%
3%
4%
5%
4%
5%
5%
5%
5%
6%
8%
9%
9%
9%
9%
10%
10%
10%
10%
10%
10%
11%
11%
11%
11%
11%
11%
11%
11%
11%
11%
11%
11%
11%
12%
12%
11%
11%
11%
12%
12%
12%
12%
12%
12%
13%
14%
14%
15%

44%
44%
44%
42%
41%
44%
42%
42%
43%
40%
42%
37%
40%
38%
38%
35%
31%
31%
40%
38%
35%
33%
35%
32%
35%
34%
33%
33%
32%
32%
32%
31%
31%
30%
29%
28%
30%
29%
28%
28%
31%
32%
30%
30%
30%
31%
32%
33%
35%
38%
32%
32%
31%
27%
25%
25%
25%
24%
24%
23%
23%
22%
22%
21%
20%
20%
21%
20%
19%
18%
18%
18%
18%
16%
16%
15%
15%
14%
14%
14%
13%
13%

0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%

27%
25%
26%
28%
30%
25%
26%
26%
26%
30%
26%
34%
29%
32%
29%
35%
42%
40%
25%
20%
31%
33%
27%
34%
35%
35%
38%
40%
40%
40%
40%
40%
39%
38%
35%
33%
30%
32%
32%
34%
33%
31%
32%
32%
25%
21%
17%
12%
6%
5%
14%
12%
15%
23%
27%
25%
21%
23%
23%
23%
22%
23%
23%
23%
25%
24%
22%
21%
22%
22%
23%
23%
23%
25%
24%
24%
23%
24%
23%
19%
18%
19%

75%
78%
76%
74%
72%
78%
76%
76%
76%
72%
76%
69%
73%
71%
73%
67%
60%
62%
77%
82%
73%
73%
78%
73%
73%
73%
69%
68%
67%
66%
66%
65%
66%
67%
69%
71%
75%
73%
73%
71%
72%
74%
73%
71%
75%
79%
83%
88%
98%
98%
86%
88%
85%
77%
74%
76%
79%
77%
78%
77%
78%
77%
77%
77%
76%
76%
78%
79%
78%
77%
77%
77%
77%
75%
75%
75%
76%
75%
76%
81%
81%
81%

25%
22%
24%
26%
28%
22%
24%
24%
24%
28%
24%
31%
27%
29%
27%
33%
40%
38%
23%
18%
27%
27%
22%
27%
27%
27%
31%
32%
33%
34%
34%
35%
34%
33%
31%
29%
25%
27%
27%
29%
28%
26%
27%
29%
25%
21%
17%
12%
2%
2%
14%
12%
15%
23%
26%
24%
21%
23%
22%
23%
22%
23%
23%
23%
24%
24%
22%
21%
22%
23%
23%
23%
23%
25%
25%
25%
24%
25%
24%
19%
19%
19%

75%
78%
76%
74%
72%
78%
76%
76%
76%
72%
76%
69%
73%
71%
73%
67%
60%
62%
77%
82%
73%
73%
78%
73%
73%
73%
69%
68%
67%
66%
66%
65%
66%
67%
69%
71%
75%
73%
73%
71%
72%
74%
73%
71%
75%
79%
83%
88%
98%
98%
86%
88%
85%
77%
74%
76%
79%
77%
78%
77%
78%
77%
77%
77%
76%
76%
78%
79%
78%
77%
77%
77%
77%
75%
75%
75%
76%
75%
76%
81%
81%
81%

1978
1979
1980
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010

15%
15%
14%
14%
13%
14%
15%
17%
20%
21%
22%
23%
23%
22%
22%
22%
22%
22%
22%
23%
24%
23%
23%
23%
21%
22%
22%
22%
22%
23%
22%

8%
7%
7%
6%
6%
6%
8%
8%
11%
11%
13%
13%
12%
12%
11%
11%
11%
11%
10%
11%
11%
11%
11%
10%
10%
11%
10%
10%
10%
10%
10%

4%
4%
4%
5%
5%
5%
5%
5%
5%
5%
6%
6%
6%
6%
6%
7%
7%
7%
7%
7%
7%
7%
7%
7%
7%
7%
7%
8%
8%
8%
8%

3%
2%
2%
2%
2%
2%
2%
2%
3%
3%
3%
3%
3%
3%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%

0%
0%
1%
1%
0%
0%
-1%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
1%
1%
1%
0%
0%
0%
0%
0%
0%
0%

0%
0%
0%
1%
1%
1%
1%
1%
1%
1%
1%
1%
2%
2%
2%
2%
2%
2%
3%
3%
3%
3%
2%
2%
2%
3%
2%
2%
2%
2%
2%

2%
2%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
2%
2%
2%
2%
2%
2%
2%
2%
1%
1%
2%
2%
3%

All series are extracted from Piketty 2010 appendix table A8 (link broken on 8-2-2013)

71%
70%
72%
72%
73%
73%
71%
70%
67%
66%
64%
64%
64%
65%
65%
66%
65%
65%
65%
64%
63%
63%
64%
65%
66%
65%
65%
65%
64%
64%
65%

42%
42%
43%
43%
43%
43%
42%
42%
40%
40%
40%
39%
40%
40%
40%
40%
40%
39%
39%
39%
39%
39%
39%
40%
41%
41%
41%
41%
41%
41%
41%

15%
15%
15%
16%
16%
16%
17%
16%
16%
16%
15%
15%
15%
15%
15%
16%
16%
16%
17%
16%
16%
16%
16%
16%
17%
17%
16%
16%
16%
16%
16%

14%
13%
13%
13%
13%
13%
12%
11%
10%
10%
9%
9%
9%
9%
9%
9%
8%
8%
8%
8%
8%
8%
8%
8%
8%
8%
7%
7%
7%
7%
7%

0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
1%
0%
0%
1%
0%
1%
1%
1%
1%
1%
0%
1%
1%
1%
1%
1%
1%
1%
1%
0%
1%

17%
17%
16%
16%
15%
16%
18%
20%
23%
24%
26%
27%
26%
26%
26%
26%
26%
26%
26%
27%
28%
28%
28%
27%
25%
26%
26%
26%
26%
27%
26%
26%
27%

83%
83%
84%
84%
85%
85%
83%
82%
78%
77%
75%
74%
75%
76%
76%
77%
77%
77%
77%
76%
75%
75%
75%
76%
78%
77%
77%
77%
76%
76%
77%

17%
17%
16%
16%
15%
15%
17%
18%
22%
23%
25%
26%
25%
24%
24%
23%
23%
23%
23%
24%
25%
25%
25%
24%
22%
23%
23%
23%
24%
24%
23%
23%
23%

83%
83%
84%
84%
85%
85%
83%
82%
78%
77%
75%
74%
75%
76%
76%
77%
77%
77%
77%
76%
75%
75%
75%
76%
78%
77%
77%
77%
76%
76%
77%

Table S6.7: Structure of national income in France, 1896-2008: disposable income & savings
[1]

Disposable
income Ydt
= national
income
taxes
+
transfers +
net govt
interest
1896
1897
1898
1899
1900
1901
1902
1903
1904
1905
1906
1907
1908
1909
1910
1911
1912
1913
1914
1915
1916
1917
1918
1919
1920
1921
1922
1923
1924
1925
1926
1927
1928
1929
1930
1931
1932
1933
1934
1935
1936
1937
1938
1939
1940
1941
1942
1943
1944
1945
1946
1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983

94%
94%
94%
94%
94%
95%
95%
94%
94%
95%
94%
95%
95%
95%
94%
94%
95%
94%
96%
101%
103%
103%
105%
105%
101%
100%
99%
98%
96%
95%
92%
91%
93%
92%
92%
91%
91%
93%
94%
94%
96%
96%
94%
91%
89%
89%
88%
88%
88%
86%
83%
82%
82%
79%
79%
78%
76%
75%
76%
77%
77%
77%
75%
74%
75%
74%
74%
74%
73%
73%
73%
74%
74%
73%
73%
73%
73%
73%
73%
73%
71%
72%
71%
70%
70%
71%
70%
70%

[2]

[3]

[4]
[5]
[6]
% national income Yt

incl.
incl.
incl.
after-tax after-tax after-tax
capital
labor
replac.
income income income

24%
22%
23%
25%
27%
23%
23%
24%
24%
27%
23%
31%
26%
29%
26%
31%
38%
36%
23%
19%
29%
30%
25%
31%
31%
31%
33%
35%
34%
34%
33%
33%
32%
31%
29%
27%
23%
26%
25%
28%
27%
26%
26%
27%
20%
17%
14%
10%
0%
1%
11%
9%
12%
17%
19%
17%
14%
15%
16%
16%
15%
16%
15%
15%
17%
16%
15%
14%
14%
15%
15%
16%
16%
17%
16%
16%
15%
16%
14%
12%
11%
11%
10%
10%
9%
9%
8%
9%

69%
71%
70%
68%
66%
71%
70%
70%
70%
66%
70%
63%
67%
65%
67%
62%
56%
57%
72%
78%
69%
68%
74%
67%
67%
65%
62%
60%
59%
58%
56%
55%
56%
56%
58%
58%
61%
59%
59%
57%
60%
62%
60%
59%
63%
66%
68%
72%
82%
79%
66%
66%
63%
56%
52%
53%
54%
52%
53%
53%
53%
52%
51%
50%
50%
50%
51%
50%
49%
48%
48%
47%
47%
46%
46%
46%
47%
46%
47%
48%
47%
47%
47%
46%
46%
46%
46%
45%

1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
2%
1%
1%
1%
1%
4%
6%
5%
6%
6%
4%
4%
4%
3%
3%
3%
2%
3%
5%
4%
5%
6%
7%
8%
9%
9%
9%
7%
8%
6%
6%
6%
6%
6%
6%
6%
7%
7%
7%
7%
7%
8%
8%
8%
8%
8%
8%
8%
8%
8%
8%
9%
9%
9%
10%
10%
10%
11%
11%
11%
11%
11%
11%
11%
11%
13%
13%
13%
14%
14%
14%
15%
16%
16%

memo:
after-tax
capital
income
excl.
retained
earnings

memo:
retained
earnings

24%
22%
23%
24%
26%
23%
23%
23%
24%
26%
24%
28%
26%
27%
26%
29%
33%
32%
22%
18%
25%
25%
21%
27%
25%
25%
26%
28%
27%
27%
27%
27%
26%
26%
24%
22%
20%
21%
22%
23%
23%
22%
22%
22%
16%
14%
11%
8%
4%
2%
7%
6%
7%
14%
15%
14%
13%
13%
13%
13%
13%
13%
13%
12%
13%
13%
13%
12%
12%
12%
12%
13%
13%
13%
13%
13%
13%
13%
13%
12%
11%
11%
11%
11%
11%
12%
11%
12%

1%
0%
0%
1%
1%
-1%
0%
0%
0%
1%
-1%
2%
0%
1%
0%
2%
5%
4%
1%
0%
4%
5%
4%
5%
6%
6%
7%
7%
7%
7%
6%
6%
6%
5%
5%
5%
3%
5%
4%
4%
4%
4%
4%
5%
4%
3%
3%
1%
-3%
-2%
4%
3%
4%
3%
4%
3%
2%
2%
2%
3%
2%
3%
3%
3%
3%
3%
2%
2%
3%
3%
3%
3%
3%
4%
3%
3%
3%
3%
1%
0%
0%
0%
0%
-1%
-1%
-3%
-3%
-3%

[7]

[8]

Personal
savings

Private
savings
(personal
savings +
retained
earnings)

S0t

St

11%
11%
10%
10%
8%
7%
9%
7%
4%
6%
6%
6%
7%
5%
8%
2%
6%
5%
0%
0%
0%
0%
0%
0%
19%
24%
18%
22%
19%
17%
14%
5%
14%
13%
11%
4%
0%
-2%
-1%
3%
13%
9%
6%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
11%
10%
10%
10%
9%
10%
11%
10%
10%
10%
9%
11%
10%
12%
11%
11%
11%
11%
11%
11%
10%
12%
11%
12%
12%
13%
14%
12%
12%
13%
11%
11%
11%
10%
10%

12%
11%
10%
11%
9%
6%
9%
7%
4%
8%
5%
9%
8%
6%
8%
4%
12%
10%
1%
0%
4%
5%
4%
5%
25%
29%
25%
29%
25%
24%
21%
11%
20%
18%
16%
9%
3%
3%
3%
8%
17%
14%
10%
5%
4%
3%
3%
1%
-3%
-2%
4%
3%
4%
14%
14%
13%
12%
11%
12%
14%
12%
13%
13%
12%
14%
13%
14%
14%
13%
14%
14%
15%
15%
14%
15%
15%
15%
15%
14%
14%
11%
12%
12%
11%
9%
8%
7%
7%

[9]

[10]

[11]

[12]

[13]
[14]
[15]
% disposable income Ydt

Disposable
=
memo: Private income
national
incl.
incl.
incl.
savings - war
income
after-tax after-tax after-tax
destructions
- taxes
+ capital
labor
replac.
transfers +
income income income
net govt
St + WDt
interest
12%
11%
10%
11%
9%
6%
9%
7%
4%
8%
5%
9%
8%
6%
8%
4%
12%
10%
1%
-44%
-36%
-36%
-43%
5%
25%
29%
25%
29%
25%
24%
21%
11%
20%
18%
16%
9%
3%
3%
3%
8%
17%
14%
10%
5%
-21%
-23%
-25%
-29%
-38%
-29%
4%
3%
4%
14%
14%
13%
12%
11%
12%
14%
12%
13%
13%
12%
14%
13%
14%
14%
13%
14%
14%
15%
15%
14%
15%
15%
15%
15%
14%
14%
11%
12%
12%
11%
9%
8%
7%
7%

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

26%
23%
25%
27%
29%
24%
25%
25%
25%
28%
25%
32%
28%
30%
27%
33%
40%
39%
24%
19%
28%
29%
24%
30%
31%
31%
33%
35%
35%
36%
36%
36%
35%
34%
31%
29%
25%
28%
27%
29%
28%
28%
28%
29%
23%
19%
16%
11%
3%
3%
13%
11%
15%
21%
25%
22%
19%
20%
20%
21%
20%
21%
21%
20%
22%
21%
20%
19%
20%
20%
21%
22%
21%
23%
22%
22%
21%
22%
20%
16%
15%
16%
14%
15%
13%
13%
11%
13%

73%
76%
74%
72%
70%
75%
74%
74%
74%
70%
74%
67%
71%
69%
71%
66%
58%
60%
75%
77%
66%
66%
70%
64%
66%
65%
63%
61%
61%
61%
61%
61%
60%
61%
63%
64%
67%
63%
63%
61%
63%
65%
64%
64%
70%
74%
77%
82%
93%
92%
79%
81%
77%
70%
66%
68%
71%
69%
69%
68%
69%
68%
68%
68%
67%
67%
68%
68%
67%
66%
65%
64%
64%
62%
64%
63%
64%
63%
64%
66%
67%
66%
66%
66%
66%
66%
66%
65%

1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
2%
1%
1%
1%
1%
4%
6%
5%
6%
6%
4%
4%
4%
3%
3%
3%
2%
4%
6%
4%
6%
7%
8%
9%
10%
10%
9%
8%
8%
6%
7%
7%
7%
7%
7%
7%
8%
8%
8%
9%
9%
10%
10%
10%
11%
11%
11%
11%
11%
11%
11%
12%
12%
13%
13%
14%
14%
14%
15%
15%
15%
15%
15%
15%
16%
18%
18%
18%
19%
20%
21%
21%
23%
23%

memo:
after-tax
capital
income
excl.
retained
earnings

memo:
retained
earnings

25%
24%
25%
26%
28%
25%
25%
25%
25%
27%
25%
30%
27%
29%
28%
31%
35%
34%
22%
18%
24%
25%
20%
26%
25%
25%
27%
28%
28%
29%
29%
29%
28%
28%
26%
24%
21%
22%
23%
25%
24%
23%
24%
24%
18%
15%
13%
10%
4%
2%
9%
7%
9%
17%
19%
18%
16%
18%
18%
17%
17%
17%
17%
17%
17%
17%
17%
16%
16%
16%
16%
17%
17%
17%
18%
17%
17%
17%
18%
16%
16%
16%
15%
16%
15%
17%
16%
17%

1%
0%
0%
1%
1%
-1%
0%
0%
0%
1%
-1%
2%
0%
1%
0%
2%
6%
5%
1%
0%
4%
5%
3%
4%
6%
6%
7%
7%
7%
7%
7%
7%
6%
6%
6%
5%
4%
5%
4%
5%
4%
4%
4%
5%
5%
4%
3%
1%
-4%
-2%
4%
3%
5%
4%
6%
4%
2%
3%
3%
4%
3%
4%
4%
4%
5%
4%
3%
3%
4%
4%
5%
5%
4%
5%
4%
4%
4%
5%
2%
0%
0%
0%
0%
-1%
-2%
-4%
-5%
-4%

[16]

[17]

Personal
savings

Private
savings
(personal
savings +
retained
earnings)

S0t

St

12%
12%
11%
11%
8%
7%
10%
8%
5%
7%
6%
7%
8%
5%
9%
2%
7%
6%
0%
0%
0%
0%
0%
0%
19%
24%
18%
23%
19%
18%
16%
5%
15%
14%
12%
5%
0%
-2%
-1%
3%
14%
10%
7%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
14%
13%
13%
13%
12%
14%
15%
12%
13%
14%
12%
15%
14%
16%
15%
15%
15%
15%
15%
15%
14%
16%
16%
16%
16%
18%
19%
16%
16%
18%
16%
15%
16%
15%
14%

12%
11%
11%
12%
10%
6%
10%
8%
5%
8%
6%
9%
8%
6%
8%
4%
12%
10%
1%
0%
4%
5%
3%
4%
24%
29%
25%
30%
26%
25%
22%
12%
22%
20%
17%
10%
3%
3%
3%
8%
18%
14%
11%
5%
5%
4%
3%
1%
-4%
-2%
4%
3%
5%
17%
18%
17%
16%
14%
16%
18%
15%
17%
17%
16%
19%
18%
19%
18%
18%
19%
19%
20%
20%
19%
20%
20%
20%
21%
19%
19%
16%
17%
17%
15%
13%
12%
10%
10%

1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010

69%
70%
71%
70%
70%
70%
70%
70%
71%
72%
71%
71%
70%
70%
70%
69%
69%
69%
70%
71%
70%
69%
68%
69%
70%

11%
12%
15%
16%
17%
18%
17%
17%
18%
17%
18%
18%
17%
17%
18%
17%
17%
16%
15%
16%
16%
15%
15%
16%
15%

43%
42%
40%
39%
38%
38%
38%
38%
38%
38%
37%
37%
37%
36%
37%
37%
37%
38%
39%
39%
38%
38%
38%
38%
38%

16%
16%
15%
15%
15%
15%
15%
15%
16%
16%
16%
16%
16%
16%
15%
15%
15%
15%
16%
16%
16%
16%
16%
16%
16%

12%
13%
12%
13%
13%
14%
14%
14%
15%
15%
15%
16%
15%
15%
15%
14%
14%
14%
15%
15%
15%
15%
15%
15%
15%

-2%
-1%
2%
3%
4%
4%
3%
2%
3%
2%
3%
2%
2%
2%
3%
3%
2%
1%
0%
2%
1%
0%
0%
0%
0%

8%
8%
7%
5%
5%
6%
7%
7%
8%
9%
8%
9%
9%
9%
9%
8%
8%
9%
10%
9%
9%
8%
8%
9%
9%

All series are extracted from Piketty 2010 appendix table A10 (link broken on 8-2-2013)

7%
7%
9%
8%
9%
10%
10%
10%
11%
11%
11%
11%
10%
11%
12%
11%
11%
10%
10%
11%
10%
9%
8%
9%
8%

7%
7%
9%
8%
9%
10%
10%
10%
11%
11%
11%
11%
10%
11%
12%
11%
11%
10%
10%
11%
10%
9%
8%
9%
8%

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

15%
17%
21%
22%
24%
25%
25%
24%
25%
24%
25%
25%
24%
25%
25%
24%
24%
23%
22%
23%
22%
22%
22%
22%
22%

62%
60%
57%
56%
54%
53%
54%
54%
53%
53%
52%
52%
53%
52%
53%
54%
54%
56%
56%
55%
55%
55%
55%
55%
55%

23%
23%
22%
22%
22%
21%
21%
22%
22%
23%
23%
23%
23%
23%
22%
22%
22%
22%
22%
22%
23%
23%
23%
23%
23%

17%
18%
18%
19%
19%
20%
20%
21%
21%
22%
21%
22%
22%
22%
21%
20%
21%
21%
21%
21%
21%
21%
22%
22%
22%
21%
23%

-2%
-1%
3%
4%
6%
5%
4%
3%
4%
3%
4%
3%
2%
3%
4%
4%
3%
2%
1%
2%
1%
1%
0%
0%
-1%

12%
11%
10%
8%
8%
8%
9%
11%
11%
13%
12%
13%
12%
13%
12%
12%
12%
13%
14%
13%
13%
12%
12%
13%
12%

10%
10%
13%
11%
13%
14%
14%
14%
15%
15%
15%
16%
14%
16%
17%
16%
15%
15%
15%
15%
14%
13%
12%
13%
12%

Table UK.11a: Structure of national income in the UK, 1855-2010: capital & labor shares in national income
[1]

[2]

[3]

[4]

[5]

[6]

[7]

[8]

[9]

[10]

[11]

[12]

1855
1856
1857
1858
1859
1860
1861
1862
1863
1864
1865
1866
1867
1868
1869
1870
1871
1872
1873
1874
1875
1876
1877
1878
1879
1880
1881
1882
1883
1884
1885
1886
1887
1888
1889
1890
1891
1892
1893
1894
1895
1896
1897
1898
1899
1900
1901
1902
1903
1904
1905
1906
1907
1908
1909
1910
1911
1912
1913
1914
1915
1916
1917
1918
1919
1920a
1920b
1921
1922
1923
1924
1925
1926
1927
1928
1929
1930
1931
1932
1933
1934
1935
1936
1937
1938
1939
1940
1941
1942
1943
1944
1945
1946
1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010

Total
capital
income

including
corporate
capital
income (net
corporate
profits)

including
housing
capital
income (net
rents)

YKt*

YKct

Yht

YKset

FYKt

YKgt

YLt

YLct

26%
28%
30%
34%
27%
28%
33%
36%
33%
33%
31%
31%
28%
31%
33%
36%
38%
34%
31%
31%
30%
29%
28%
29%
30%
32%
32%
30%
28%
28%
29%
32%
31%
33%
30%
29%
28%
28%
29%
32%
32%
32%
33%
34%
35%
33%
32%
34%
32%
32%
34%
35%
35%
34%
34%
35%
35%
36%
36%
33%
36%
40%
38%
35%
31%
20%
21%
18%
25%
27%
28%
28%
28%
28%
28%
29%
27%
25%
24%
25%
26%
27%
29%
29%
28%
30%
31%
29%
29%
28%
26%
25%
27%
27%
28%
28%
27%
27%
28%
28%
28%
26%
25%
25%
25%
26%
27%
26%
25%
24%
24%
23%
22%
22%
22%
22%
20%
21%
21%
22%
18%
15%
17%
20%
20%
19%
17%
17%
19%
22%
23%
24%
23%
23%
24%
23%
21%
18%
19%
22%
24%
25%
27%
28%
27%
25%
23%
23%
25%
25%
26%
27%
27%
28%
28%
25%
26%

4%
5%
5%
6%
5%
5%
7%
8%
8%
9%
8%
8%
7%
8%
9%
10%
12%
10%
9%
8%
8%
7%
7%
7%
8%
8%
9%
8%
7%
7%
7%
8%
8%
9%
8%
8%
7%
7%
8%
9%
10%
10%
11%
12%
12%
12%
11%
12%
11%
11%
12%
12%
12%
11%
12%
12%
12%
13%
13%
11%
14%
17%
17%
15%
14%
6%
7%
4%
8%
9%
9%
9%
8%
9%
9%
9%
8%
7%
6%
8%
9%
10%
11%
12%
11%
14%
15%
15%
16%
16%
15%
15%
16%
17%
17%
18%
17%
17%
18%
19%
19%
18%
17%
17%
17%
18%
19%
18%
17%
16%
16%
16%
14%
15%
15%
14%
13%
14%
14%
14%
9%
8%
9%
13%
13%
12%
10%
10%
12%
14%
14%
16%
14%
15%
16%
15%
14%
12%
11%
13%
15%
15%
17%
18%
16%
15%
14%
13%
14%
14%
15%
15%
16%
16%
16%
13%
12%

5%
5%
5%
6%
6%
6%
6%
6%
5%
6%
6%
6%
6%
6%
6%
6%
5%
5%
5%
5%
6%
6%
6%
7%
7%
7%
7%
7%
7%
7%
8%
8%
8%
7%
7%
7%
7%
7%
8%
8%
8%
8%
8%
8%
7%
7%
8%
8%
8%
8%
8%
8%
7%
8%
8%
7%
7%
7%
7%
6%
5%
4%
4%
3%
3%
2%
2%
3%
3%
3%
4%
4%
4%
4%
4%
4%
5%
6%
6%
6%
6%
6%
5%
5%
5%
5%
4%
3%
2%
2%
2%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
2%
2%
2%
2%
2%
2%
2%
2%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
4%
4%
4%
3%
3%
3%
3%
3%
4%
4%
4%
4%
4%
4%
5%
5%
5%
5%
5%
5%
5%
5%
5%
5%
5%
5%
6%
7%

12%
13%
15%
16%
11%
12%
15%
17%
15%
14%
12%
12%
10%
12%
12%
14%
16%
13%
11%
11%
10%
9%
8%
8%
8%
9%
10%
8%
7%
7%
7%
8%
8%
9%
8%
7%
6%
5%
5%
7%
7%
7%
7%
8%
9%
8%
7%
8%
6%
6%
7%
8%
8%
7%
7%
7%
7%
7%
7%
7%
9%
10%
9%
8%
6%
3%
3%
1%
4%
4%
4%
4%
4%
4%
4%
4%
3%
3%
3%
3%
4%
4%
4%
4%
4%
5%
7%
7%
7%
6%
5%
5%
4%
4%
4%
4%
3%
3%
3%
3%
3%
3%
3%
3%
2%
3%
3%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
1%
2%
2%
2%
2%
1%
1%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
3%
3%
3%
3%
3%
3%
3%
3%
2%
3%
3%
3%
3%
3%
3%
3%
2%
2%

2%
2%
2%
2%
2%
3%
3%
3%
3%
3%
3%
3%
3%
3%
4%
4%
4%
4%
4%
5%
5%
5%
5%
5%
5%
5%
5%
5%
5%
6%
6%
6%
6%
6%
6%
7%
7%
7%
7%
6%
6%
6%
6%
6%
6%
6%
6%
6%
6%
6%
7%
7%
7%
8%
8%
8%
8%
8%
8%
8%
6%
6%
5%
4%
3%
5%
5%
4%
4%
4%
5%
5%
6%
5%
5%
5%
5%
4%
3%
4%
4%
4%
4%
4%
4%
3%
2%
2%
1%
1%
1%
1%
1%
1%
2%
2%
3%
2%
2%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
0%
1%
-1%
0%
0%
-1%
-1%
-1%
0%
0%
-1%
0%
0%
0%
-1%
-1%
-1%
0%
0%
0%
0%
0%
0%
1%
0%
0%
1%
2%
2%
2%
2%
1%
2%
3%
2%
2%

3%
3%
3%
3%
3%
3%
3%
3%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
2%
3%
4%
5%
5%
5%
5%
6%
7%
6%
6%
6%
6%
6%
6%
6%
6%
6%
6%
4%
4%
4%
4%
3%
4%
3%
3%
3%
3%
4%
4%
4%
5%
4%
4%
3%
3%
3%
4%
4%
3%
4%
4%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
2%
2%
2%
2%
2%
2%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
2%
2%
2%
2%
2%
3%
3%
3%
3%
2%
2%
2%
1%
1%
1%
2%
2%
2%
2%
2%
3%

69%
68%
65%
62%
68%
68%
63%
59%
62%
61%
64%
64%
67%
64%
62%
58%
57%
61%
64%
64%
64%
65%
66%
65%
64%
63%
62%
65%
67%
66%
65%
62%
63%
62%
64%
65%
66%
66%
65%
62%
62%
62%
61%
60%
59%
61%
61%
59%
61%
60%
59%
58%
58%
59%
59%
58%
58%
57%
58%
61%
59%
56%
61%
66%
68%
78%
77%
79%
70%
68%
68%
68%
68%
67%
66%
67%
68%
69%
70%
68%
66%
65%
64%
63%
65%
62%
60%
60%
61%
62%
65%
67%
68%
66%
65%
65%
65%
65%
65%
64%
64%
66%
67%
68%
67%
67%
66%
68%
68%
68%
68%
68%
69%
68%
68%
66%
68%
68%
69%
70%
75%
79%
76%
72%
72%
72%
74%
73%
70%
67%
67%
66%
67%
66%
65%
66%
69%
70%
69%
67%
64%
63%
62%
61%
61%
63%
64%
65%
63%
63%
62%
62%
62%
61%
61%
64%
63%

15%
17%
15%
16%
19%
19%
18%
18%
21%
23%
24%
24%
25%
24%
25%
23%
23%
25%
26%
27%
27%
28%
28%
28%
29%
28%
28%
29%
30%
30%
30%
29%
30%
30%
31%
33%
34%
35%
36%
33%
33%
34%
34%
34%
32%
33%
33%
32%
35%
34%
33%
33%
33%
34%
34%
34%
33%
33%
34%
34%
23%
21%
23%
29%
40%
50%
52%
51%
44%
42%
43%
42%
41%
42%
41%
42%
43%
44%
44%
43%
43%
42%
41%
42%
42%
37%
24%
20%
21%
22%
24%
31%
42%
45%
45%
45%
45%
45%
44%
44%
45%
47%
48%
49%
49%
48%
48%
50%
50%
50%
50%
50%
51%
50%
49%
48%
49%
48%
48%
48%
52%
53%
51%
50%
50%
51%
51%
50%
47%
46%
45%
45%
45%
45%
45%
46%
47%
47%
46%
44%
43%
43%
42%
42%
43%
44%
45%
45%
43%
42%
42%
42%
42%
42%
41%
43%
43%

including
including net
capital share
plus: net govt
foreign
of noninterest
capital
corporate
payments
income
income

Table extracted from Piketty-Zucman 2013 (links frozen 19-4-2013)

memo:
personal
interest
payments

[13]

[14]

[15]

[16]

FMOS have a much lower labor share in 1856 (58%, but this is a fraction of GNP)
In any case they find a rising labor share 1855-1973 which is not what we have here
They also have much much higher wages and much much lower self-employemnt (they have almost stable self-employment labor inc over 1856-1973, 7.5% to 5%)
Key difference is that we assume same factor income decomposition in corp vs. Non corp sector, and apparently this is completely wrong in 1856

% factor-price national income

Yt - Tpt

% national income Yt

Total
labour
income

including
labor share
of selfemploymt
net income

including net
foreign labor
income

Capital
share

Labour
share

Capital
share
(excl. govt
interest)

Ygt

YLset

FYLt

YKt*

YLt

YKt

YLt

3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
4%
4%
4%
4%
4%
4%
4%
4%
4%
4%
3%
4%
4%
4%
4%
4%
4%
4%
4%
4%
5%
6%
7%
6%
6%
5%
5%
5%
5%
5%
5%
5%
5%
5%
5%
8%
21%
22%
24%
23%
11%
6%
6%
7%
6%
6%
6%
6%
6%
6%
6%
6%
6%
7%
6%
6%
6%
6%
6%
7%
9%
12%
26%
31%
32%
33%
32%
27%
15%
10%
11%
11%
11%
12%
13%
13%
12%
12%
12%
12%
11%
11%
11%
11%
11%
11%
11%
11%
11%
12%
12%
11%
12%
13%
13%
13%
15%
16%
16%
15%
15%
14%
15%
16%
16%
15%
15%
14%
14%
14%
14%
13%
13%
14%
14%
14%
13%
12%
12%
11%
11%
11%
11%
11%
11%
12%
12%
12%
13%
12%
12%
13%
13%

51%
47%
47%
42%
46%
45%
41%
38%
38%
35%
36%
37%
39%
36%
34%
32%
31%
33%
35%
34%
34%
35%
34%
33%
31%
31%
30%
32%
32%
32%
31%
29%
29%
28%
29%
29%
29%
27%
25%
25%
25%
24%
23%
23%
22%
22%
21%
21%
20%
20%
20%
20%
20%
20%
20%
19%
20%
19%
18%
20%
14%
13%
13%
15%
18%
22%
20%
21%
21%
20%
20%
20%
21%
19%
19%
19%
19%
19%
19%
19%
17%
17%
16%
15%
15%
13%
10%
9%
8%
8%
9%
9%
11%
11%
10%
9%
9%
8%
8%
8%
7%
7%
7%
7%
7%
7%
7%
7%
7%
7%
7%
7%
7%
7%
7%
7%
7%
8%
8%
9%
9%
9%
9%
8%
7%
7%
7%
7%
7%
7%
7%
7%
7%
7%
7%
7%
8%
9%
9%
9%
8%
8%
8%
7%
8%
8%
8%
8%
8%
8%
8%
8%
7%
7%
8%
8%
8%

0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%

29%
30%
33%
37%
29%
30%
35%
39%
36%
36%
34%
33%
30%
34%
35%
39%
41%
36%
33%
33%
33%
31%
30%
31%
32%
34%
35%
32%
30%
30%
32%
34%
34%
35%
33%
31%
30%
30%
31%
34%
35%
34%
35%
36%
37%
36%
35%
36%
35%
35%
37%
38%
38%
37%
37%
38%
38%
39%
38%
35%
39%
43%
40%
36%
33%
22%
23%
20%
28%
30%
31%
31%
31%
32%
32%
32%
30%
29%
27%
28%
30%
31%
32%
32%
31%
34%
35%
34%
34%
32%
30%
29%
30%
31%
31%
31%
31%
30%
31%
32%
31%
29%
28%
28%
28%
29%
30%
28%
28%
27%
27%
26%
25%
25%
25%
26%
24%
24%
24%
25%
20%
16%
19%
22%
23%
22%
19%
20%
22%
25%
26%
27%
27%
27%
28%
26%
24%
21%
22%
25%
28%
30%
31%
33%
32%
29%
27%
27%
28%
29%
30%
31%
31%
32%
32%
28%
30%

75%
73%
70%
67%
74%
73%
68%
64%
67%
66%
69%
69%
72%
69%
67%
63%
61%
65%
68%
69%
69%
70%
71%
71%
70%
68%
67%
70%
72%
71%
70%
67%
68%
66%
69%
70%
71%
71%
70%
67%
66%
67%
66%
65%
64%
65%
66%
65%
66%
65%
64%
63%
63%
64%
64%
63%
63%
62%
62%
66%
63%
60%
64%
69%
72%
84%
83%
87%
79%
77%
76%
75%
76%
75%
75%
74%
76%
78%
79%
77%
75%
74%
72%
71%
73%
70%
68%
70%
70%
72%
74%
76%
75%
74%
73%
73%
73%
74%
73%
72%
72%
75%
76%
76%
76%
75%
73%
75%
75%
76%
76%
77%
78%
78%
78%
77%
79%
78%
78%
77%
83%
86%
84%
81%
80%
82%
84%
84%
81%
78%
77%
76%
77%
76%
76%
77%
79%
81%
80%
77%
74%
74%
72%
71%
71%
74%
75%
75%
73%
72%
71%
71%
71%
70%
70%
73%
73%

25%
27%
30%
33%
26%
27%
32%
36%
33%
34%
31%
31%
28%
31%
33%
37%
39%
35%
32%
31%
31%
30%
29%
29%
30%
32%
33%
30%
28%
29%
30%
33%
32%
34%
31%
30%
29%
29%
30%
33%
34%
33%
34%
35%
36%
35%
34%
35%
34%
35%
36%
37%
37%
36%
36%
37%
37%
38%
38%
34%
37%
40%
36%
31%
28%
16%
17%
13%
21%
23%
24%
25%
24%
25%
25%
26%
24%
22%
21%
23%
25%
26%
28%
29%
27%
30%
32%
30%
30%
28%
26%
24%
25%
26%
27%
27%
27%
26%
27%
28%
28%
25%
24%
24%
24%
25%
27%
25%
25%
24%
24%
23%
22%
22%
22%
23%
21%
22%
22%
23%
17%
14%
16%
19%
20%
18%
16%
16%
19%
22%
23%
24%
23%
24%
24%
23%
21%
19%
20%
23%
26%
26%
28%
29%
29%
26%
25%
25%
27%
28%
29%
29%
29%
30%
30%
27%
27%

75%
73%
70%
67%
74%
73%
68%
64%
67%
66%
69%
69%
72%
69%
67%
63%
61%
65%
68%
69%
69%
70%
71%
71%
70%
68%
67%
70%
72%
71%
70%
67%
68%
66%
69%
70%
71%
71%
70%
67%
66%
67%
66%
65%
64%
65%
66%
65%
66%
65%
64%
63%
63%
64%
64%
63%
63%
62%
62%
66%
63%
60%
64%
69%
72%
84%
83%
87%
79%
77%
76%
75%
76%
75%
75%
74%
76%
78%
79%
77%
75%
74%
72%
71%
73%
70%
68%
70%
70%
72%
74%
76%
75%
74%
73%
73%
73%
74%
73%
72%
72%
75%
76%
76%
76%
75%
73%
75%
75%
76%
76%
77%
78%
78%
78%
77%
79%
78%
78%
77%
83%
86%
84%
81%
80%
82%
84%
84%
81%
78%
77%
76%
77%
76%
76%
77%
79%
81%
80%
77%
74%
74%
72%
71%
71%
74%
75%
75%
73%
72%
71%
71%
71%
70%
70%
73%
73%

including
including
labor income
labor income
paid by
paid by govt
corporati.

Labour
share

0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%