When wages fall as a proportion of national income, as we see here, it means there is a shift of income from wage-earners to capital-holders. In other words, the rich get richer while the poor get poorer. We can also see this happening at the level of specific cities. In Buenos Aires in 1984, the richest 10 per cent of the population were ten times richer than the poorest 10 per cent. By the end
