Advanced Search
MyIDEAS: Login to save this paper or follow this series

The Struggle Over the Real Wage In the Monetary Production Economy

Contents:

Author Info

  • Hernando Matallana

    ()

Abstract

Keynes contents in General Theory that the monetary market logic of the aggregate real wage in the monetary production economy conveys: (i) the determination of the average real wage rate, the level of employment, and the possibility of involuntary unemployment through the interaction of the monetary markets and the goods markets; and (ii) the determination of the money wage rate through the bargains of the firms and the workers as a market-theoretical stability condition of the economic system. Accordingly, (iii) the money wage claims of labour (in conformity with changes of the average labour productivity) do not alter the distribution of income between capital and labour; and (iv) the struggle about the money wages by different groups of workers is actually a zerosum game over the distribution of the aggregate real wage between the different fractions of the working class. The paper discusses Keynes´s contention in the context of the monetary-keynesian theory of the endogenous-money monetary production economy.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://economia.uniandes.edu.co/publicaciones/dcede2009-02.pdf
Download Restriction: no

Bibliographic Info

Paper provided by UNIVERSIDAD DE LOS ANDES-CEDE in its series DOCUMENTOS CEDE with number 005271.

as in new window
Length: 24
Date of creation: 08 Jan 2009
Date of revision:
Handle: RePEc:col:000089:005271

Contact details of provider:

Related research

Keywords: income distribution; monetary production economy; monetarykeynesianism; real aggregate wage; wage labour; wage differentials;

Find related papers by JEL classification:

This paper has been announced in the following NEP Reports:

References

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
as in new window
  1. L. Randall Wray, 1998. "Modern Money," Economics Working Paper Archive wp_252, Levy Economics Institute.
  2. Warren J. Samuels, 1988. "An Essay on the Nature and Significance of the Normative Nature of Economics," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 10(3), pages 347-354, April.
  3. Frank Hahn & Robert Solow, 1997. "A Critical Essay on Modern Macroeconomic Theory," MIT Press Books, The MIT Press, edition 1, volume 1, number 026258154x, December.
  4. Hernando Matallana, 2008. "A Short Guide to Long-Run Time-Phased Systems of Production," DOCUMENTOS CEDE 005101, UNIVERSIDAD DE LOS ANDES-CEDE.
Full references (including those not matched with items on IDEAS)

Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as in new window

Cited by:
  1. Hernando Matallana, 2010. "Mercantilismo, acumulación de capital y Desarrollo económico en la economía monetaria de producción (nacional)," DOCUMENTOS CEDE 006714, UNIVERSIDAD DE LOS ANDES-CEDE.

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:col:000089:005271. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Universidad De Los Andes-Cede).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.