Perhaps it is time to ask the question of who benefits from this technological revolution. Who is awake and steering the boat, and who is asleep below decks? As The Economist pointed out, the ability to substitute capital for labor has profound implications for the future of our society. In early 1929, before the stock market crash that set off the Great Depression, the top 1 percent earned 23.9 percent of national income. By 1976, because of 30 years of changes in tax policy as well as regulation, the 1 precent earned 8.9 percent of national income. But the Reagan era reversed both the tax and regulatory policies that had brought on more income equality, and today the top 1 percent earn 24.2 percent of national income.