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Pay Policy, Accumulation and Productivity

In: Selected Essays on Economic Policy

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  • G. C. Harcourt

    (Jesus College
    University of Adelaide)

Abstract

We live in an increasingly competitive environment, nationally and internationally, both with regard to industrial and commercial capital and to financial capital. One consequence of attempts to cope with this situation has been the emergence of sustained mass unemployment in the advanced capitalist economies. Yet inflation still remains stubbornly persistent in most countries and there has also been a decline in the rate of growth of productivity in some of them. We have witnessed, as well, instability in major markets — those for foreign exchange, labour, property and financial assets — and great variability in the rate of accumulation around unsatisfactory average levels in many industries and in economies as wholes.

Suggested Citation

  • G. C. Harcourt, 2001. "Pay Policy, Accumulation and Productivity," Palgrave Macmillan Books, in: Selected Essays on Economic Policy, chapter 19, pages 263-275, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-51056-2_19
    DOI: 10.1057/9780230510562_19
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    References listed on IDEAS

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    1. Meade,James Edward, 1995. "Full Employment Regained?," Cambridge Books, Cambridge University Press, number 9780521556972.
    2. G. C. Harcourt, 1995. "Capitalism, Socialism and Post-Keynesianism," Books, Edward Elgar Publishing, number 206.
    3. G. C. Harcourt, 1962. "Productivity And Technical Change," The Economic Record, The Economic Society of Australia, vol. 38(83), pages 388-394, September.
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    Cited by:

    1. Courvisanos, Jerry, 2009. "Political aspects of innovation," Research Policy, Elsevier, vol. 38(7), pages 1117-1124, September.
    2. Aidt, T.S. & Tzannatos, Z., 2005. "The Cost and Benefits of Collective Bargaining," Cambridge Working Papers in Economics 0541, Faculty of Economics, University of Cambridge.
    3. Toke Aidt & Zafiris Tzannatos, 2002. "Unions and Collective Bargaining : Economic Effects in a Global Environment," World Bank Publications - Books, The World Bank Group, number 15241, December.
    4. Jerry Courvisanos, 2012. "Political Economy of Innovation and Sustainable Development," Chapters, in: Blandine Laperche & Nadine Levratto & Dimitri Uzunidis (ed.), Crisis, Innovation and Sustainable Development, chapter 8, Edward Elgar Publishing.

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