Capital in the 21st Century
importance of Belle Epoque
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The Belle Epoque was a period in the history of France spanning the years 1870-1914. It was a time of vast inequality, marked by high concentrations of capital ownership, and large returns on government bonds. The end of this period also marks the end of a stretch in monetary history where inflation effectively did not exist, which allowed for the steady and reliable payment of interests on these bonds.