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|
|Contact details of provider:|| Postal: Ramon Trias Fargas, 25-27, 08005 Barcelona|
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- Oded Galor & Omer Moav, 2002.
"Natural Selection and the Origin of Economic Growth,"
The Quarterly Journal of Economics,
Oxford University Press, vol. 117(4), pages 1133-1191.
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- Oded Galor & Omer Moav, 2000. "Natural Selection and the Origin of economic Growth," Working Papers 2000-18, Brown University, Department of Economics.
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- Galor, Oded, 2006. "The Demographic Transition," MPRA Paper 76646, University Library of Munich, Germany.
- Oded Galor, 2006. "The Demographic Transition," Working Papers 2006-24, Brown University, Department of Economics.
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- Bean, Charles & Pissarides, Christopher, 1993. "Unemployment, consumption and growth," European Economic Review, Elsevier, vol. 37(4), pages 837-854, May.
- C Bean & Christopher A. Pissarides, 1992. "Unemployment, Consumption and Growth," CEP Discussion Papers dp0100, Centre for Economic Performance, LSE.
- Galor, Oded & Moav, Omer, 2001. "Evolution and growth," European Economic Review, Elsevier, vol. 45(4-6), pages 718-729, May.
- 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. Full references (including those not matched with items on IDEAS)
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