I can't footnote this ( although look a lot to both Tyler Cowen and Arnold Kling ) , but labor is relatively less mobile than capital. Capital has become more mobile.
Actual capital - machinery - has taken it as hard as has labor. This leads many to think that the increases may be closer to rents than profits. It's also harder to say what the effect of online is; for people under ... what, 25-30?, "likes" on the Internet act as a form of currency that may verge on real currency at the edges.
Actual capital - machinery - has taken it as hard as has labor. This leads many to think that the increases may be closer to rents than profits. It's also harder to say what the effect of online is; for people under ... what, 25-30?, "likes" on the Internet act as a form of currency that may verge on real currency at the edges.