A History of Working- and Middle-Class Investment Practices

• In Event: 411 - Section on Inequality, Poverty, and Mobility Refereed Roundtable Session and Business Meeting
  In Refereed Roundtable 60min: Table 04. The Financial Aspects of Inequality.

Abstract

When did working- and middle-class families begin to invest in real estate assets massively and stopped investing in corporate securities? This paper finds that it was in the late 1940s and that most current theories of portfolio choice cannot explain why.

Author

• Maude Pugliese, McGill University