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A social innovation or a product of its time? The Rehn-Meidner model's relation to contemporary economics and the Stockholm school

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  • Lennart Erixon

Abstract

A wage and economic-policy programme for full employment, price stability, growth and equity was developed by two Swedish trade-union economists in the early post-war period. A restrictive macroeconomic policy, a wages policy of solidarity and an active labour-market policy are the cornerstones of the Rehn-Meidner model. The model was influenced by Hans Singer's analysis of the fallacies of incomes policy under full employment conditions. However, it is difficult to find equivalences in contemporary economics to the model's combination of policy goals and instruments, its proposed relation between the instruments, or to its emphasis on the role of actual profits in wage formation.

Suggested Citation

  • Lennart Erixon, 2011. "A social innovation or a product of its time? The Rehn-Meidner model's relation to contemporary economics and the Stockholm school," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 18(1), pages 85-123.
  • Handle: RePEc:taf:eujhet:v:18:y:2011:i:1:p:85-123
    DOI: 10.1080/09672560903207653
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    References listed on IDEAS

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    1. Lundberg, Erik, 1972. "Productivity and Structural Change-A Policy Issue in Sweden," Economic Journal, Royal Economic Society, vol. 82(325), pages 465-485, Supplemen.
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    More about this item

    Keywords

    Rehn-Meidner model; Swedish model; Stockholm school of economics; labour-market policy; wages policy of solidarity;

    JEL classification:

    • B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics
    • B29 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Other
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
    • E64 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Incomes Policy; Price Policy
    • 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

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