https://wid.world/news-article/inequality-across-700-years/
This significantly challenges the "if America’s rich families in 1900 had invested passively in the stockmarket"
e.g. the equivalent of S&P 500 if adjusted by inflation was in 1982 was well below it's 1929 peak. Almost all growth happened after that.
https://wid.world/news-article/inequality-across-700-years/