It's important to not confused the distribution of income between labour and capital with the rates of return on labour and capital. Right now we have an unpre

It's important to not confused the distribution of income between labour and capital with the rates of return on labour and capital. Right now we have an unprecedented amount of capital sloshing around. When you increase the supply of capital, two things happen: The total income returned to capital goes up, and the rate of return goes down. If you care about wage growth, look at wage growth. Looking at labour's share of GDP is going to give you a wildly misleading view in the context of large capital flows.