Wage-Led Growth An Equitable Strategy for Economic Recovery [Hardcover]

This volume seeks to go beyond the microeconomic view of wages as a cost having negative consequences on a given firm, to consider the positive macroeconomic dynamics associated with wages as a major component of aggregate demand.Foreword; Sangheon Lee Introduction; Marc Lavoie and Engelbert Stockhammer 1. Wage-led Growth: Concept, Theories and Policies; Marc Lavoie and Engelbert Stockhammer 2. Why have Wage Shares Fallen? An Analysis of the Determinants of Functional Income Distribution; Engelbert Stockhammer 3. Is Aggregate Demand Wage-led or Profit-led? A Global Model; ?zlem Onaran and Giorgos Galanis 4. Wage-led or Profit-led Supply: Wages, Productivity and Investment; Servaas Storm and C.W.M. Naastepad 5. The Role of Income Inequality as a Cause of the Great Recession and Global Imbalances; Simon Sturn and Till van Treeck 6. Financialisation, the Financial and Economic Crisis, and the Requirements and Potentials for Wage-led Recovery; Eckhard Hein and Matthias MundtGiorgos Galanis, New Economics Foundation, UK Eckhard Hein, Berlin School of Economics and Law, Germany Marc Lavoie, University of Ottawa, Canada Matthias Mundt, Berlin School of Economics and Law, Germany C.W.M. (Ro) Naastepad, Delft University of Technology, The Netherlands ?zlem Onaran, University of Greenwich, UK Engelbert Stockhammer, Kingston University, UK Servaas Storm, Delft University of Technology, The Netherlands Simon Sturn, University of Massachusetts in Amherst, USA Till van Treeck, University of Duisburg-Essen, Germany.