Economics, Econometrics and Finance
5 years ago

Long-term decline in wages linked to global forces and financial policies.

Edward Elgar Publishing eBooks
Long-term shifts in demand and distribution in neo-Kaleckian and neo-Goodwinian models
Robert A. Blecker

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The article discusses whether economic demand is driven by wages or profits in the long term. It suggests that as demand indicators decrease, so does the wage share. This could be due to factors like globalization and financialization pushing wages down, leading to lower growth rates. Some believe that factors like financialization and wage inequality indirectly lower wages compared to productivity, reducing the wage share.