[T]he problem is... if the wealth pump is allowed to run long enough, eventually... the growing elite numbers and their consumption levels will overs… - Peter Turchin
" "[T]he problem is... if the wealth pump is allowed to run long enough, eventually... the growing elite numbers and their consumption levels will overshoot the productive base, which is what the workers are producing.
About Peter Turchin
Peter Valentinovich Turchin (born 22 May 1957) is a Russian-American complexity scientist, specializing in an area of study he and his colleagues developed called —mathematical modeling and statistical analysis of the dynamics of historical societies. He is currently Editor-in-Chief at Cliodynamics: The Journal of Quantitative History and Cultural Evolution. As of 2020, he is a director of the .
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Additional quotes by Peter Turchin
Let's look at ... wages adjusted for inflation. ...In the late 1970s there was a definite phase transition. Up to that point, for the previous two generations, the wages for both unskilled and manufacturing workers had been growing quite rapidly and almost linearly... [W]ages for manufacturing workers increased... fourfold... a quite remarkable achievement... [I]t was unprecedented in human history to see such a long-term sustained increase in general well-being. Then... the wages stagnated, or even declined. So what was the reason?
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