> In the postwar era, developed economies have experienced two substantial trends in the net capital share of aggregate income: a rise during the last several d

> In the postwar era, developed economies have experienced two substantial trends in the net capital share of aggregate income: a rise during the last several decades, which is well-known, and a fall of comparable magnitude that continued until the 1970s, which is less well-known. Overall, the net capital share has increased since 1948, but when disaggregated this increase comes entirely from the housing sector: the contribution to net capital income from all other sectors has been zero or slightly negative, as the fall and rise have offset each other. [0] That doesn't mean that the gains for capital since the 70s are from housing. Only that the gains from the 40s are. It also doesn't address the industrial revolution's affect. [0] - http://mattrognlie.com/brookings_capitalshare.pdf http://mattrognlie.com/brookings_capitalshare.pdf