World Wars I and II

World Wars I and II are perhaps the most significant events in the history of wealth distribution and inequality. It marked what appeared to be the end of the conditions of capitalist accumulation, and the driving forces behind the fundamental inequality r > g. Not only did the wars destroy a lot of capital in the form of land, buildings, and other infrastructure, but also it obliged many of the wealthy to sell off foreign assets. This caused a significant decrease in the capital/income ratio, as well as a significant decrease to capital's share in national income.