this post authored by Roberto Iacono and Elisa Palagi
A crucial element in the study of wealth inequality is the difference between the rate of return and the growth rate of income. However, the focus on these measures at the aggregate level belies important heterogeneities along the wealth distribution. This column uses rich micro-data from Norway to show that wealthy households enjoy higher rates of return relative to growth, while the opposite is true for poorer household and the lower-middle-income class. It discusses policy implications of these findings for capital and wealth taxation in order to curb the rise of inequality.
Paradox or hypocrisy? Norway s renewables vs oil and gas debate
Now a major player in renewables, especially hydroelectricity, Norway s nearly €1.1 trillion sovereign wealth fund largely derives from its oil and energy bonanza (Photo: Benedicte Meydel)
Oslo and Trieste, Today, 07:06
Environmental awareness is high in Norway. Spending time outside in nature is for many a rule of life, and holidays are often spent in their hytter – cabins in the forest or on the coast, known for their minimalist style.
Norway recycles 97 percent of its plastic-drinks bottles. In Oslo as in Stavanger, the country s oil capital, or in Tromsø, in the Arctic, people prefer to travel by public transport, bicycle or electric car. Some 54 percent of all new cars sold last year were electric; the parliament has decided that all new cars sold by 2025 should be zero emissions.