Sergio Pelaez

“In order to understand the dynamics of wage inequality, we must introduce other factors, such as the institutions and rules that govern the operation of the labor market in each society. To an even greater extent than other markets, the labor market is not a mathematical abstraction whose workings are entirely determined by natural and immutable mechanisms and implacable technological forces: it is a social construct based on specific rules and compromises.”
― Thomas Piketty, Capital in the Twenty-First Century

“These forfeited food surpluses fuelled politics, wars, art and philosophy. They built palaces, forts, monuments and temples. Until the late modern era, more than 90 per cent of humans were peasants who rose each morning to till the land by the sweat of their brows. The extra they produced fed the tiny minority of elites – kings, government officials, soldiers, priests, artists and thinkers – who fill the history books. History is something that very few people have been doing while everyone else was ploughing fields and carrying water buckets.”
― Yuval Noah Harari, Sapiens: A Brief History of Humankind

“This leads to the idea of a race between education and technology: if the supply of skills does not increase at the same pace as the needs of technology, then groups whose training is not sufficiently advanced will earn less and be relegated to devalued lines of work, and inequality with respect to labor will increase. In order to avoid this, the educational system must increase its supply of new types of training and its output of new skills at a sufficiently rapid pace. If equality is to decrease, moreover, the supply of new skills must increase even more rapidly, especially for the least well educated.”
― Thomas Piketty, Capital in the Twenty-First Century

“Economic growth is quite simply incapable of satisfying this democratic and meritocratic hope, which must create specific institutions for the purpose and not rely solely on market forces or technological progress.”
― Thomas Piketty, Capital in the Twenty-First Century