Odin Omdal

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In economic booms, the share of profits in national income tends to increase, and pay at the top end of the scale (including incentives and bonuses) often increases more than wages toward the bottom and middle. Conversely, during economic slowdowns or recessions (of which war can be seen as an extreme form), various noneconomic factors, especially political ones, ensure that these movements do not depend solely on the economic cycle.
Capital in the Twenty-First Century
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