Table 7.6 reports the regression results, and some basic relationships stand out as constantly robust across all specifications.147 First, economic growth, that is, change in GDP per capita, seems to have been pro-rich over the twentieth century. In periods of faster than average growth, top income earners have benefited more than proportionally.148 A likely reason for this result is simply that top incomes are (and have been) more closely related to performance than other incomes.
Table 7.6 reports the regression results, and some basic relationships stand out as constantly robust across all specifications.147 First, economic growth, that is, change in GDP per capita, seems to have been pro-rich over the twentieth century. In periods of faster than average growth, top income earners have benefited more than proportionally.148 A likely reason for this result is simply that top incomes are (and have been) more closely related to performance than other incomes.<br>
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