Paolo Acciari, Facundo Alvaredo, Salvatore Morelli 24 April 2021
Growing wealth disparities can have corrosive effects on equality of opportunity when they crystallise over time and turn into persistent disparities across generations. This column uses newly assembled data from Italian inheritance tax records to show that the wealth share of the top 1% (half a million individuals) increased from 16% in 1995 to 22% in 2016, and the share accruing to the top 0.01% (the richest 5,000 adults) almost tripled from 1.8% to 5%. In contrast, the poorest 50% saw an 80% drop in their average net wealth over the same period. The data also reveal the growing role of inheritance and gifts inter vivos as a share of national income, as well as their increasing concentration at the top.
I. Introduction
This blogpost is going to discuss the implications of the EEZs of Croatia and Italy in the Adriatic with regard to the interests of and open issues with third States, hydrocarbon exploration and exploitation, maritime transport, fishing, and opportunities for offshore renewable energies.
The Adriatic Sea, a sub-sea of the Mediterranean, as a semi-enclosed sea previously accounted for three riparian States: Albania, Italy, and Yugoslavia. The dissolution of the Socialist Federal Republic of Yugoslavia (SFRY) in the early 1990s has led to the establishment of four new littoral States: Croatia, Bosnia-Herzegovina, Montenegro, and Slovenia. Generally, the Adriatic’s eco-system is particularly vulnerable as its waters are shallow and the exchange or renewal of waters with the Ionian Sea through the relatively narrow Strait of Otranto is limited (Vidas 2013: 353; Blake and Topalović 1996: 4; see also Gačić et al 2001).