Capitalism, Unemployment and the Transition to the Contemporary Pattern of Growth
A new model of unemployment based on an idea of Marx is presented and used to interpret the development of the British economy from the beginning of capitalism to the present. It is shown that unemployment may be created purposely by capitalists in order to weaken the bargaining position of the workers. This mechanism leads to complex temporal pattern of unemployment and can explain why wages took almost a century and a half to react to the growing capital to labour ratio that characterised early British capitalism.
|Date of creation:||Jun 2005|
|Date of revision:|
|Contact details of provider:|| Postal: |
Phone: +34 93 542-1222
Fax: +34 93 542-1223
Web page: http://www.barcelonagse.eu
More information through EDIRC
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.:
- R.A. Brecher & Z. Chen & E.U. Choudhri, 2000.
"Unemployment and Growth in the Long Run: An Efficiency-Wage Model with Optimal Savings,"
Carleton Economic Papers
00-01, Carleton University, Department of Economics, revised Sep 2002.
- Richard A. Breche & Zhiqi Chen & Ehsan U. Choudhri, 2002. "Unemployment and Growth in the Long Run: An Efficiency-Wage Model with Optimal Savings," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 43(3), pages 875-894, August.
- Galor, Oded & Moav, Omer, 2001. "Evolution and growth," European Economic Review, Elsevier, vol. 45(4-6), pages 718-729, May.
- Bean, Charles & Pissarides, Christopher, 1993.
"Unemployment, consumption and growth,"
European Economic Review,
Elsevier, vol. 37(4), pages 837-854, May.
- repec:oup:qjecon:v:117:y:2002:i:4:p:1133-1191 is not listed on IDEAS
- Galor, Oded & Mountford, Andrew, 2002. "Why are a Third of People Indian and Chinese? Trade, Industrialization and Demographic Transition," CEPR Discussion Papers 3136, C.E.P.R. Discussion Papers.
- Allin Cottrell & William A. Darity, Jr., 1988. "Marx, Malthus, and Wages," History of Political Economy, Duke University Press, vol. 20(2), pages 173-190, Summer.
- Oded Galor, 2006. "The Demographic Transition," Working Papers 2006-24, Brown University, Department of Economics.
When requesting a correction, please mention this item's handle: RePEc:bge:wpaper:194. 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: (Bruno Guallar)
If references are entirely missing, you can add them using this form.