The rising share of total income held by the top 1 percent has had a substantial impact on income inequality in developed countries. In the United States, the share of the top 1 percent more than doubled from 9 percent in 1976 to 20 percent in 2011. In other rich countries, the trend was similar but the scale differed among countries. Some have argued that this concentration is a result of technological changes increasing the rewards to skill, but the differences in scale across countries with similar technological context suggests that institutional and policy factors are more important.
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