"What does the wealth pump do on the elite side..? Declining relative wages of workers set up this wealth pump that transfers wealth from workers to the economic elites... [A]s a result... a larger fraction of GDP goes to... the economic elites, which are both capital holders and top layers of administration of corporations (corporate officers). ...[T]his creates a favorable economic conjuncture for the economic elites and results in higher rates of upward social mobility. Elite numbers, as a result... grow and so does their consumption levels."
Quote Details
Added by wikiquote-import-bot
Unverified quote
0 likes
Academics from the United StatesNon-fiction authors from the United StatesHistorians from the United StatesPolitical scientists from the United StatesBiologists from the United States
Original Language: English
Available Languages (1)
Sources
24:15
https://en.wikiquote.org/wiki/Peter_Turchin
Revision History
No revisions have been submitted for this quote.
Categories
Peter Turchin
90 quotes on TrueQuotesView all quotes by Peter Turchin →
Related Quotes
"Quantitative historical analysis reveals that complex human societies are affected by recurrent—and predictable—waves…"
"In the United States, we have stagnating or declining real wages, a growing gap between rich and poor, overproduction…"
"We are also entering a dip in the so-called ... This could mean that future recessions will be severe."
"All these cycles look set to peak in the years around 2020."
"We need to find ways to ameliorate the negative effects of globalization... Economic inequality, accompanied by burge…"
"[W]e should not expand our system of higher education... An excess of young people with advanced degrees has been one…"
"A group consisting entirely of self-regarding agents will never be able to cooperate. So cooperation is possible only…"
"This article revisits the prediction, made in 2010, that the 2010–2020 decade would likely be a period of growing ins…"
"This prediction was based on a computational model that quantified in the USA such structural-demographic forces for …"
"The next decade is likely to be a period of growing instability... which could undermine... scientific progress..."