Chris Dillow — Inequality, then, is better explained by power than by human capital or marginal productivity. —

David Ruccio points to labour's falling share of income in the US and says: 

"We need to talk much more about profits and who owns capital. And, in addition, who appropriates and distributes the surplus and to whom that surplus is subsequently distributed."

This is like saying a man should put his trousers on before leaving the house. It's good advice, but it shouldn't need saying....

Inequality, then, is better explained by power than by human capital or marginal productivity.

Stumbling and Mumbling
Inequality: power vs human capital
by Chris Dillow | Investors Chronicle (UK)