Celebrating humanity's flourishing through the spread of capitalism and the rule of law
24 Jul 2016 1 Comment
in economic growth, economic history, labour economics, macroeconomics, politics - New Zealand, unions Tags: economic reform, Employment Contracts Act, employment protection laws, employment regulation, Leftover Left, neoliberalism, pessimism bias
Source: Low Wage Economy | New Zealand Council of Trade Unions – Te Kauae Kaimahi, with extra annotations by this blogger.
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Aug 02, 2016 @ 23:40:27
Thanks for your post and graph. I would be interested to see figures for the rate of profit under more and less egalitarian regimes in New Zealand. If the rate of profit drives investment, and from there growth in output and productivity, then if profits are too low, then a period of wage stagnation would be necessary to restore them to some level which ultimately leads to rising investment and growth. But this does not necessarily say anything about the necessity or otherwise for rising inequality in promoting growth, or the famous ‘trickle-down’ effect.
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