Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/282066 
Year of Publication: 
2023
Series/Report no.: 
Discussion Paper No. 374
Publisher: 
Ludwig-Maximilians-Universität München und Humboldt-Universität zu Berlin, Collaborative Research Center Transregio 190 - Rationality and Competition, München und Berlin
Abstract: 
We study the dynamics of capital accumulation, income inequality, capital concentration, and voting up to 1914. Based on new panel data for Prussian regions, we re-evaluate the famous Revisionism Debate between orthodox Marxists and their critics. We show that changes in capital accumulation led to a rise in the capital share and income inequality, as predicted by orthodox Marxists. But against their predictions, this did neither lead to further capital concentration nor to more votes for the socialists. Instead, trade unions and strike activity limited income inequality and fostered political support for socialism, as argued by the Revisionists.
Subjects: 
income inequality
concentration
top incomes
capital share
capital accumulation
JEL: 
D31
D63
J31
N30
Document Type: 
Working Paper

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