Political Economy Research Group Workshop " Wage-led growth – An alternative to finance-led capitalism?"
Neoliberalism has led to a polarization in the distribution of income and given rise to a finance-led growth model that collapsed in the worst crisis since the 1930s. Wage-led growth has recently been proposed as an alternative policy strategy. It aims at linking wage growth to productivity growth and inflation. Growing wages could then generate high demand by fuelling consumption. But such a strategy could also ignite the growth of the capital stock if consumption demand has second round effects on investment, and if wage growth induces technological change and productivity growth. Thus, for a wage-growth policy to be successful, it needs be embedded in an economic policy regime that gives a greater role to labour unions and restrains the financial sector. The Workshop will introduce recent research on wage-led growth and provide a forum for critical discussion.
|Organizer:||Political Economy Research Group, School of Economics, Faculty of Arts and Social Sciences, Kingston University|
|Conference venue:||Kingston, Kingston University, Penrhyn Road campus|
|Classification:||B2 - History of Economic Thought since 1925 ; D3 - Distribution ; E1 - General Aggregative Models ; E2 - Consumption, Saving, Production, Employment, and Investment ; E3 - Prices, Business Fluctuations, and Cycles|
|Event type:||Seminare, Summer Schools, Symposien, Workshops; Seminars, Summer Schools, Symposiums, Workshops|