capital and labor

Robert M. Solow, who won a Nobel in economic science in 1987 for his theory that advances in technology, rather than increases in capital and labor, have been the primary drivers of economic growth in the United States, died on Thursday at his home in Lexington, Mass. He was 99.

Andrew Jackson, slayer of the national bank, intensified tensions between capital and labor, and between elites and the rest.

Economies grow not only by adding more capital and labor.

“We’re seeing a renewed battle between capital and labor — between shareholders and workers — in the coming years,” he said.

Moreover, any exogenous factor that exacerbates the difference between the earnings of capital and labor simultaneously expands the "merit" of the former and diminishes that of the latter.