Neutralizing tendency of wages to grow below productivity rate

Pierre Salama ()

Brazilian Journal of Political Economy, 2012, vol. 32, issue 2, 171-187

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.

Keywords: economic development; income distribution; wages (search for similar items in EconPapers)
Date: 2012
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