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Corporate Governance and the “Job Loss†Recovery

Author

Listed:
  • L. Josh Bivens

    (Economic Policy Institute, Washington, DC, lbivens@epinet.org)

  • Christian E. Weller

    (Center for American Progress, 1333 H Street NW, 10th fl., Washington, DC 20005, cweller@americanprogress.org)

Abstract

The recent recovery continued a trend that started in the mid-1970s of a growing divergence between capital and labor incomes. This trend appears to be largely due to a shift in the balance of corporate governance. A growing concentration of financial assets among institutional investors was juxtaposed by a declining unionization rate. Consequently, institutional investors had the incentives and increasingly the ability to allocate a growing share of corporate resources towards capital, particularly in the form of share repurchases and dividend payouts instead.

Suggested Citation

  • L. Josh Bivens & Christian E. Weller, 2005. "Corporate Governance and the “Job Loss†Recovery," Review of Radical Political Economics, Union for Radical Political Economics, vol. 37(3), pages 293-301, September.
  • Handle: RePEc:sae:reorpe:v:37:y:2005:i:3:p:293-301
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