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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

More quotes by Kenneth Rogoff

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Why are oil prices so low? First, energy consumption growth rates in developing markets have decreased. This is particularly noticeable in China. Second, new technologies are being developed and the shale gas revolution in the USA has taken place
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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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Today, chess programs have become so good that even grandmasters sometimes struggle to understand the logic behind some of their moves.
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I don't think it's time yet to eliminate cash, but I propose having a less-cash society, not a cashless one.
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The assertion that everyone benefits simultaneously from free trade is simply incorrect.
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People aren't looking at how they're doing, but rather at how their neighbors are doing and at their own place in society.
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It is vital for Russia to normalize relations with the rest of the world. You shouldn't isolate your economy
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Unbridled capitalism will lead to some very real problems.
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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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The Indians and Chinese have become brilliant chess professionals. They get on a plane and play all over the world. This has led to dramatic pressure on incomes. Nowadays, the best chess player in Argentina can no longer make a living playing chess.
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The problem - at least in the United States - is not that people can't find jobs. The problem is that they're no longer finding jobs that provide them with dignity and decent social status.
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Russia depends on natural resources way too much. Russian economy is not diversified enough
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... far more people make a living as professional chess players today than ever before. Thanks partly to the availability of computer programs and online matches, there has been a mini-boom in chess interest among young people in many countries.
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Russia exists in the context of open global economy and is a part of it
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I think that a lot of the money - these big bills - is used to facilitate tax evasion and crime.
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