Wages and Profits in the Capitalist Economy provides an incisive
study of the impact of monopolistic power on macroeconomic
performance in the USA and the UK since 1945, within a
post-Kaleckian framework.It provides new evidence to suggest that
the implications of monopolistic power, in both product and labour
markets, are important in understanding macroeconomic performance.
It argues that the rise and fall in profitability that accompanies
the cycle of boom and recession is indicative of the operation of
oligopolistic markets. Furthermore, the political economy of the
distribution of income exacerbates macroeconomic instability. The
book concludes that traditional Keynesian approaches favouring
solutions to increase economic growth, and neoclassical approaches
advocating supply-side policies to suppress conflict over
distribution, may offer little prospect of long-term economic
stability.
General
Imprint: |
Edward Elgar Publishing Ltd
|
Country of origin: |
United Kingdom |
Series: |
New Directions in Modern Economics series |
Release date: |
1990 |
Authors: |
Andrew Henley
|
Dimensions: |
234 x 156 x 15mm (L x W x T) |
Format: |
Hardcover
|
Pages: |
224 |
ISBN-13: |
978-1-85278-090-6 |
Categories: |
Books >
Business & Economics >
Economics >
Macroeconomics >
General
|
LSN: |
1-85278-090-8 |
Barcode: |
9781852780906 |
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