The paper by Anthony Atkinson, Thomas Piketty, and Emmanuel Saez examines the long-term evolution of top income shares in over twenty countries using income tax data. The authors discuss the methodology, key findings, and theoretical models that explain the observed trends. They find that most countries experienced a significant drop in top income shares in the early 20th century due to shocks during wars and the Great Depression. However, in recent decades, top income shares have increased substantially in English-speaking countries, India, and China, while continental European countries and Japan have seen more modest increases or even declines. The rise in top incomes has had a significant impact on economic growth and inequality, with the top 1% capturing a larger share of economic growth and contributing to higher overall inequality. The paper also explores the global significance of top incomes, noting that while the proportion of globally rich individuals has decreased, their share of total world income has increased. The authors emphasize the importance of understanding the dynamics of top incomes for public policy and international comparisons.The paper by Anthony Atkinson, Thomas Piketty, and Emmanuel Saez examines the long-term evolution of top income shares in over twenty countries using income tax data. The authors discuss the methodology, key findings, and theoretical models that explain the observed trends. They find that most countries experienced a significant drop in top income shares in the early 20th century due to shocks during wars and the Great Depression. However, in recent decades, top income shares have increased substantially in English-speaking countries, India, and China, while continental European countries and Japan have seen more modest increases or even declines. The rise in top incomes has had a significant impact on economic growth and inequality, with the top 1% capturing a larger share of economic growth and contributing to higher overall inequality. The paper also explores the global significance of top incomes, noting that while the proportion of globally rich individuals has decreased, their share of total world income has increased. The authors emphasize the importance of understanding the dynamics of top incomes for public policy and international comparisons.