Matthew C. Smith

“The overwhelmingly greater part of the recent increase in the top 1 percent’s aggregate income share is attributable not to a shift of overall income away from labor and in favor of capital, but rather to a shift within labor income, away from the middle class and in favor of elite workers.”
― Daniel Markovits, The Meritocracy Trap: How America's Foundational Myth Feeds Inequality, Dismantles the Middle Class, and Devours the Elite