" I  find it useful to think about the fall in labor income in reverse, as the rise of capital income. "

" the Dow Jones index roughly tripled from 1980 to 1990

and then more than tripled from 1990 to 2000

While the Dow was basically flat over the decade from 2000 to 2010"


" large non-labor income was generated during the earlier part of the decade by housing prices. While many of us participate in gains in the stock market or the housing market in some ways, the bulk of those gains do tend to flow to those with higher income levels"