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Abstract

In the pre-war period labor's share in the U.S. manufacturing and agricultural sectors was relatively constant. Keynes called this "a bit of a miracle". Several studies (Kravis, and Ferguson and Moroney) have shown that labor's share in the U.S. manufacturing sector has increased in the post-war period. The opposite appears to have been the case for U.S. agriculture. Two recent studies (Ruttan and Stout, and Lianos) indicate that labor's relative share in the U.S. agricultural sector has declined in the post-war period.

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