Monopoly Capital: An Essay on the American Economic and Social Order

Carson, Robert B.

doi:10.1080/00213624.1968.11502823

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“…The conclusions are reassuring for the proponents of the hypothesis. However, for reasons that were first sketched by Baran and Sweezy (1968) it may be difficult to decisively prove the hypothesis empirically. To put it simply, the small share of wages in GDP may trigger processes of adjustment similar to what is the essence of the paradox of thrift; in this case savings are nothing else but excessive profits that cannot be spent on new investment due to a lack of demand for final, consumer products.…”

Section: Some Theoretical and Methodological Remarksmentioning

confidence: 99%

Labour incomes and economic activity in Poland

Koronowski

2023

JoMS

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ObjectivesThe purpose of the paper is to examine the impact of labour incomes on economic activity and growth in Poland.Material and methodsThe thesis of the paper is rooted in the hypothesis of underconsumption and it claims that a proportion of labour incomes to the domestic product exerts an influence on the structure and the value of the aggregate demand and thus it eventually has an effect on economic activity. Empirical analysis provided refers to macroeconomic data for the period 2010-2019.ResultsThe results support the thesis; relatively low growth of labour incomes is followed by low rates of economic growth and investment and higher rates of unemployment.ConclusionsThe analysis of changes in real production per employee, real wages, the rate of unemployment, the rate of GDP growth and changes in households’ consumption spending strongly support the claim that low wages at least periodically stand behind a demand constraint in the Polish economy and that they impair economic results.

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Section: Some Theoretical and Methodological Remarksmentioning

confidence: 99%

Labour incomes and economic activity in Poland

Koronowski

2023

JoMS

View full text Add to dashboard Cite

show abstract

Monopoly Capital: An Essay on the American Economic and Social Order

Cited by 1 publication

References 0 publications

Labour incomes and economic activity in Poland

Labour incomes and economic activity in Poland

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