Workshop: Wage-led growth
|Date:||14 June 2011, 9:00am to|
14 June 2011, 6:00pm
|Location:||JG0003 Penrhyn Road Campus Kingston KT1 2EE|
|Fee:||Free, advance registration essential|
The Political Economy Research Group
School of Economics
Faculty of Arts and Social Sciences
is organizing a workshop
Wage-led growth –
An alternative to finance-led capitalism?
Neoliberalism has led to a polarization in the distribution of income and given rise to a finance-led growth model that collapsed in the worst crisis since the 1930s. Wage-led growth has recently been proposed as an alternative policy strategy. It aims at linking wage growth to productivity growth and inflation. Growing wages could then generate high demand by fuelling consumption. But such a strategy could also ignite the growth of the capital stock if consumption demand has second round effects on investment, and if wage growth induces technological change and productivity growth. Thus, for a wage-growth policy to be successful, it needs be embedded in an economic policy regime that gives a greater role to labour unions and restrains the financial sector. The Workshop will introduce recent research on wage-led growth and provide a forum for critical discussion.
Registration is free but advance booking is essential.