Journal ArticleDOI
Unemployment and the real wage: the economic basis for contesting political ideologies
Amit Bhaduri,Stephen A. Marglin +1 more
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Using the Keynesian theory of effective demand, the authors demonstrates how particular models such as that of "cooperative capitalism" enunciated by the left Keynesian social democrats, the Marxian model of "profit squeeze" emphasizing distributive conflict, and even the conservative model relying on "supply side" stimulus fit in as particular variants of a more general theoretical scheme through a reconstruction of the familiar IS schedule.Abstract:
Using the Keynesian theory of effective demand, this paper demonstrates how particular models, such as that of "cooperative capitalism" enunciated by the left Keynesian social democrats, the Marxian model of "profit squeeze" emphasizing distributive conflict, and even the conservative model relying on "supply side" stimulus, fit in as particular variants of a more general theoretical scheme through a reconstruction of the familiar IS schedule. The argument is weaved around the theme of the relations between unemployment and real wage in the context of both a closed and an open economy to explain the common macroeconomic basis of contesting ideologies. Copyright 1990 by Oxford University Press.read more
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Financialisation and the slowdown of accumulation
TL;DR: In this article, the link between accumulation and financialization is tested econometrically by means of a time series analysis of aggregate business investment for USA, UK, France, and Germany.
Journal ArticleDOI
Gender Inequality and Economic Growth: A Cross-Country Analysis
TL;DR: This article investigated empirically the determinants of economic growth for a set of semi-industrialized export-oriented economies in which women provided the bulk of labor in the export sector and found that gender inequality which contributes to women's relatively lower wages was a stimulus to growth via the effect on exports during 1975-95.
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The golden age of capitalism : reinterpreting the postwar experience
TL;DR: In this article, a new paradigm of work organization and co-ordination is proposed: lessons from Japanese experience, and the diversity of unemployment experience since 1973 is discussed. But it is not discussed in detail.
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Rising inequality as a cause of the present crisis
TL;DR: In this article, the authors argue that the economic imbalances that caused the present crisis should be thought of as the outcome of the interaction of the effects of financial deregulation with the macroeconomic effects of rising inequality.
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Functional income distribution and aggregate demand in the Euro area
TL;DR: In this article, a post-Kaleckian macroeconomic model is proposed to estimate the Euro area is presently in a wage-led demand regime, where private consumption expenditures tend to increase and investment will positively depend on profits.
References
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Book
General Theory of Employment, Interest and Money
TL;DR: In this article, a general theory of the rate of interest was proposed, and the subjective and objective factors of the propensity to consume and the multiplier were considered, as well as the psychological and business incentives to invest.
Journal ArticleDOI
The General Theory of Employment
TL;DR: In this paper, the theory of interest was restated and the output of capital goods and of consumption was analyzed in terms of uncertainty and fluctuations of investment, and demand and supply for output as a whole.
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The Making of the English Working Class
R. Currie,R. M. Hartwell +1 more
TL;DR: The main controversialists in the standard-of-living debate have come from the fringes of the established academic world, from areas remote from agreed courses and acceptable topics; their work, criticized as polemical, is certainly spirited, even aggressive as discussed by the authors.