Capitalist Quote by Kenneth Rogoff
“There has been a noticeable decline in the labor factor in all wealthy countries in the past 20 years. The rich are getting richer, but those at the lower end aren't moving ahead as quickly as the capitalists.”
About This Quote
Source Book: The Globalization Paradox, 2011
Wealthy nations see labor’s share shrink while capital gains, widening inequality.
In simple terms: Labor share falls, rich get richer.
Address policy to rebalance labor and capital.
Themes
Mood
Type
When to use this quote
- government policy
- corporate wage negotiations
- tax reform
- education and training
- social safety nets
Key Concepts
Questions to Reflect On
- How can policy effectively restore labor’s share?
- What role does technology play in this trend?
Structural forces limit rapid change; political resistance may stall reforms.