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Neutralizing tendency of wages to grow below productivity rate

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  • Pierre Salama

Abstract

The apparent stability on relative shares in revenue during the 2000s, or even the increase increase in wages share in Latin American countries, seems to be a "surprise" in Kaldor’s opinion, or even a "mystery" for Schumpeter, or well finally "a reproach to economic theory" according to Robinson. Various theories trying to explain sharing of value added insist on investment relative size, saving importance, different types of technical progress (biased or not), amount of idle capacity, cost structure, intermediate products importance, higher markup rates searching by entrepreneurs and, consecutively, on distributive conflict. We will analyze main macroeconomic models - those of Kaldor, Robinson and Kalecki – in order to overtake that "reproach to economic theory". JEL Classification: E12; D33; O1; O15; O54.

Suggested Citation

  • Pierre Salama, 2012. "Neutralizing tendency of wages to grow below productivity rate," Brazilian Journal of Political Economy, Center of Political Economy, vol. 32(2), pages 171-187.
    • Handle: RePEc:ekm:repojs:v:32:y:2012:i:2:p:171-187:id:347
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    More about this item

    Keywords

    economic development; income distribution; wages;
    All these keywords.

    JEL classification:

    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • D33 - Microeconomics - - Distribution - - - Factor Income Distribution
    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration
    • O54 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Latin America; Caribbean

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