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What drives the four decades-long decline in labour’s share of income?

Author

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  • Onaran, Özlem
  • Guschanski, Alexander

Abstract

Alexander Guschanski and Ozlem Onaran (2018) of the University of Greenwich Political Economy Research Centre provide evidence that changes in bargaining power, in particular the fall in union density and welfare state retrenchment, lie at the core of rising income inequality between labour and capital. The research challenges the established consensus that inequality is an unavoidable outcome of technological change or globalisation, and shows the importance of labour market institutions and social protection policies. The results of their recent project, funded by the Institute for New Economic Thinking, will be presented at the Royal Economics Society Annual Conference.

Suggested Citation

  • Onaran, Özlem & Guschanski, Alexander, 2018. "What drives the four decades-long decline in labour’s share of income?," Greenwich Papers in Political Economy 19372, University of Greenwich, Greenwich Political Economy Research Centre.
    • Handle: RePEc:gpe:wpaper:19372
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    File URL: http://gala.gre.ac.uk/id/eprint/19372/7/19372%20ONARAN_The_Four_Decades-Long_Decline_in_Labour%E2%80%99s_Share_of_Income_2018.pdf
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    More about this item

    Keywords

    wage share; income distribution; union density; technology; offshoring;
    All these keywords.

    JEL classification:

    • J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
    • J51 - Labor and Demographic Economics - - Labor-Management Relations, Trade Unions, and Collective Bargaining - - - Trade Unions: Objectives, Structure, and Effects
    • J53 - Labor and Demographic Economics - - Labor-Management Relations, Trade Unions, and Collective Bargaining - - - Labor-Management Relations; Industrial Jurisprudence

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