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Wage Policy, Income Distribution, and Democratic Theory (Paperback)
Loot Price: R1,411
Discovery Miles 14 110
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Wage Policy, Income Distribution, and Democratic Theory (Paperback)
Series: Routledge Frontiers of Political Economy
Expected to ship within 12 - 17 working days
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Total price: R1,431
Discovery Miles: 14 310
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This book explores the relationship between wage policy,
distribution of income, and ultimately how that distribution
impacts on democratic theory. In doing so, it examines the types of
policies that are critical to the maintenance of a sustainable
democracy. Wage policy, long the domain of economists (particularly
neoclassical economists whose focus has been their impact on labour
markets and income distribution), has largely been ignored by
democratic theorists. Levin-Waldman argues that because wage policy
can shape overall income distribution, it has a significant effect
on equality levels and is therefore core to democratic theory. Its
potential to enhance individual autonomy, which is a necessary
condition for democratic participation, is another reason why wage
policy should be at the centre of democratic theory. This book
argues that the evolution in wage policy has paralleled economic
transformations, which democratic theory has evolved to
accommodate. Through a careful analysis of democratic theory and
empirical analysis of the impact of wage policy on income
distribution, this book concludes that wage policy is an important
component in the maintenance of democratic society. A wage policy
that raises the wages of those at the bottom can give workers more
independence and power as they are placed on more equal footing
with managers. This, in and of itself, can be a source of
empowerment, effectively enhancing their autonomy. By doing so,
workers feel less exploited and income inequality is reduced. This
significant contribution explores the meaning of democratic theory
and how it has evolved along with the meaning and specific forms of
wage policy, providing invaluable new insights into their
connections. This book will be of interest to postgraduates and
researchers in economics and political science, as well as policy
practitioners interested in issues of income inequality or
democratic theory.
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