Conclusion: The rise in power of the monopolies as Joseph Stiglitz writes is giving more power to capital income. The above dynamics between labor and capital reflect what he is saying.
The implication is that capital income has been getting more and more control over labor. The result has been lower labor force participation, higher unemployment, lower capacity utilization and a weakening utilization of labor.
Something should be done to give power back to labor.Effective Demand
Circular Flow of Labor & Capital