Economic History and the Labor Share of National Income

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The chapter delves into a historical period of reduced inequality within capitalism, focusing on the labor share of national income as a key economic indicator. It details the rise and fall of labor income percentage in the United States, reflecting on the impact of policies and social movements on wealth distribution. The chapter explores the tensions between capitalism and social welfare policies, highlighting the complexities of their relationship and its implications on inequality.

How the balance of power shifted, for a time, in the decades after World War II, and led to a better kind of capitalism – if you think prosperity being broadly shared is a good thing.

By John Biewen, with co-host Ellen McGirt. Interviews with Eric Rauchway and Brad DeLong. Thanks to the Studs Terkel Archive at WFMT. Story editor: Loretta Williams. Music by Michelle Osis, Lilli Haydn, Chris Westlake, Alex Symcox, and Goodnight, Lucas. Music consulting by Joe Augustine of Narrative Music. "Capitalism” is a production of the Kenan Institute for Ethics at Duke University, in partnership with Imperative 21.