Aggregate Demand and Employment
Show Less

Aggregate Demand and Employment

International Perspectives

Edited by Brian K. MacLean, Hassan Bougrine and Louis-Philippe Rochon

With an emphasis on developments during and after the Great Recession, and paying due attention to the impacts of austerity policies, the chapters assembled for this book explain that high growth of aggregate demand is as essential as ever for achieving full employment and rising living standards. Written by distinguished Keynesian and Post-Keynesian economists from diverse national backgrounds, the book tackles critical theoretical and empirical issues to illuminate the economic experiences both of large geographic regions such as Europe, Latin America, and Africa, as well as specific national economies including the USA, Japan, India, and Canada.
Buy Book in Print
Show Summary Details
You do not have access to this content

Chapter 3: Kaleckian reflections on the wage share in recent Post-Keynesian controversies

Jan Toporowski

Abstract

This chapter examines the case for wage-led growth from the point of view of Micha_ Kalecki’s theory of wages. The chapter extends Kalecki’s formal consideration of wage increases to that of an open economy. The chapter argues that wage-led growth is a revival of earlier pre-Keynesian under-consumption theories that consider wages solely as income, rather than as a cost of production in capitalism.

You are not authenticated to view the full text of this chapter or article.

Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.

Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.

Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.


Further information

or login to access all content.