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Crecimiento impulsado por los salarios: concepto, teorías y políticas

Author

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  • Lavoie, Marc

    (University of Ottawa)

  • Stockhammer, Engelbert

    (King’s College London)

Abstract

The article aims to reconsider the theories and policies that have prevailed in the world economy during the last decades and have been implemented without being questioned, despite events such as the global financial crisis of 2007, which have demonstrated the inefficiency and instability of unregulated financial markets. It makes a comparative study regarding pro-capital public policies and those pro-labor, as well as between economic regimes driven by profits or by wages, by debt or by exports, and analyzes how the combination of these factors can affect an economy. In this way, it demonstrates that neoliberalism is no longer viable for growth and considers the need for a paradigm shift.

Suggested Citation

  • Lavoie, Marc & Stockhammer, Engelbert, 2023. "Crecimiento impulsado por los salarios: concepto, teorías y políticas," El Trimestre Económico, Fondo de Cultura Económica, vol. 90(357), pages 215-265, enero-mar.
    • Handle: RePEc:elt:journl:v:90:y:2023:i:357:p:215-265
    DOI: https://doi.org/10.20430/ete.v90i357.1781
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    More about this item

    Keywords

    Wage-led regime; profit-led regime; financial markets; pro-capital versus pro-labor distributional policies; growth regimes.;
    All these keywords.

    JEL classification:

    • D53 - Microeconomics - - General Equilibrium and Disequilibrium - - - Financial Markets
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • J08 - Labor and Demographic Economics - - General - - - Labor Economics Policies

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