|Author||Engelbert Stockhammer and Marc Lavoie|
|File size||4.2 MB|
Wage-Led Growth examines the causes and consequences associated with the falling wage share and rising inequality in income distribution, relating to both aggregate demand and labour productivity. It presents new empirical and econometric evidence regarding the economic causes and potential impact of changing income distribution. The volume also analyses the policy implications and strategies for a wage-led recovery that would alleviate the global problems associated with the rising household debt needed to sustain consumption expenditures and with new mercantilist policies based on wage moderation. In turn, it provides an overarching framework that will prove invaluable to present and future researchers and policy-makers.