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- W2189127572 abstract "This paper analyses the relationship between class conflict, unemployment and income distribution. It claims that there are two potentially opposite channels between unemployment rates and aggregate profitability: a discipline channel or effect and an effective demand channel. Whereas the discipline channel entails a positive relationship between unemployment rates and profitability, the effective demand channel brings forth an inverse relationship. Therefore, an unemployment rate that “maximizes” aggregate profit shares is likely to exist. Moreover, the existence of such unemployment rate implies a coordinated response of the capitalist class to changes in economic structure and institutions that affect the bargaining and purchasing power of workers. Finally, the paper provides evidence about the United States economy suggesting a stronger discipline effect for the post-II World War period." @default.
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- W2189127572 date "2012-01-01" @default.
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- W2189127572 title "Class Conflict, Unemployment, and Income Distribution (Preliminary Draft)" @default.
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