Distribution of personal wealth in Ireland - comment

Abstract

This paper focuses attention on two aspects of P.M.Lyons' work on the distribution of personal wealth in Ireland. First, using a statistical procedure devised from some well-known results, the validity of his assumption that in 1966 nearly two-thirds of the Irish adult population owned no wealth is examined. Serious doubt is cast on the assumption and, hence, on his estimate of the Irish distribution of wealth. An alternative assumption is therefore suggested and a new wealth distribution estimated. Being derived from Lyons' own data which have already been heavily criticised, no special claim to accuracy is made for the new estimate. This is not so much the fault of Lyons as of the Authorities for the grossly inadequate situation with regard to official data on wealth in Ireland. Secondly, and quite apart from the previous issue, Lyons' comparison of the distribution of wealth in Ireland with that in the United Kingdom is examined critically, and new comparisons are presented which suggest that while the distribution of wealth in Ireland may well be more inequitable than that in the UK, the difference is not nearly so great as Lyons' work suggests.