in factories, rather than in small groups in services. And that meant that the power of labor effectively became broken, and the strength of private sector trade unions declined barely very sharply between 1990 and really up to 2020. With the power of the trade unions and labor bargaining power broken, and with the ability of employers to shift production to low wage economies and gain high profits from doing so, the benefits of the growth of output during these 30 years shifted increasingly towards capital, whether in the form of human capital, particular skills, or financial capital, or real capital, and away from labor. This is much more evident in the United States than it is in Europe, but there has happened to a degree in Europe as well. And that meant that inequality within countries increased. It was probably the best 30 years in which to be a capitalist in the modern world ever, but the benefits did not go in any way so much towards labor. Now, the two factors have occurred (11/43)