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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.

Kenneth Rogoff

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Kenneth Rogoff
Age: 71
Born: 1953
Born: March 22
Chess Player
Economist
Professor
University Teacher
Rochester
New York
Kenneth Saul Rogoff
Aren
Decline
Rich
Wealthy
Getting
Lower
Moving
Factors
Noticeable
Ends
Ahead
Capitalists
Past
Quickly
Richer
Country
Countries
Factor
Years
Labor
Capitalist

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The assertion that everyone benefits simultaneously from free trade is simply incorrect.
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Workers are not being exploited. But if their share of growth doesn't increase, this could be a potential cause of social tension worldwide.
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It's quite astonishing how much money people make in the hedge fund business and in the private equity field, and how well-off affluent families really are.
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