Duly Noted

The shift to capital from labor has actually been under way for more than 40 years. Labor received 58% of the total proceeds of economic output, as measured by gross domestic income (conceptually similar to GDP), in 1980. By the third quarter of last year that had plummeted to 51.4%. Profits’ share, meanwhile, rose from 7% to 11.7%.

_{Quote Citation: Greg Ip, “The Big Money in Today’s Economy Is Going to Capital, Not Labor - WSJ”, Feb. 9, 2026 at 7:06 pm ET, https://www.wsj.com/economy/jobs/capital-labor-wealth-economy-2fcf6c2f}