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Neutralizing tendency of wages to grow below productivity rate.
- Source :
-
Brazilian Journal of Political Economy / Revista de Economia Política . abr-jun2012, Vol. 32 Issue 2, p171-187. 17p. - Publication Year :
- 2012
-
Abstract
- The apparent stability on relative shares in revenue during the 2000s, or even the increase increase in wages share in Latin-American countries, seems to be a "surprise" in Kaldor's opinion, or even a "mystery" for Schumpeter, or well finally "a reproach to economic theory" according to Robinson. Various theories trying to explain sharing of value added insist on investment relative size, saving importance, different types of technical progress (biased or not), amount of idle capacity, cost structure, intermediate products importance, higher markup rates searching by entrepreneurs and, consecutively, on distributive conflict. We will analyze main macroeconomic models - those of Kaldor, Robinson and Kalecki - in order to overtake that "reproach to economic theory". [ABSTRACT FROM AUTHOR]
- Subjects :
- *WAGE increases
*LABOR productivity
*INCOME inequality
*MACROECONOMICS
*PRICE markup
Subjects
Details
- Language :
- English
- ISSN :
- 01013157
- Volume :
- 32
- Issue :
- 2
- Database :
- Academic Search Index
- Journal :
- Brazilian Journal of Political Economy / Revista de Economia PolĂtica
- Publication Type :
- Academic Journal
- Accession number :
- 78296782
- Full Text :
- https://doi.org/10.1590/S0101-31572012000200001