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Wages and Profits in the Capitalist Economy: The Impact of Monopolistic Power on Macroeconomic Performance in the USA and the Uk

Wages and Profits in the Capitalist Economy: The Impact of Monopolistic Power on Macroeconomic Performance in the USA and the Uk (Hardback)

£89.00
Currently unavailable. Foyles can order for despatch to customer when the publisher is re-supplied on 09/08/1990.
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Synopsis

Wages and Profits in the Capitalist Economy provides an incisive study of the impact of monopolistic power on macroeconomic performance in the USA and the UK since 1945, within a post-Kaleckian framework.



It provides new evidence to suggest that the implications of monopolistic power, in both product and labour markets, are important in understanding macroeconomic performance. It argues that the rise and fall in profitability that accompanies the cycle of boom and recession is indicative of the operation of oligopolistic markets. Furthermore, the political economy of the distribution of income exacerbates macroeconomic instability. The book concludes that traditional Keynesian approaches favouring solutions to increase economic growth, and neoclassical approaches advocating supply-side policies to suppress conflict over distribution, may offer little prospect of long-term economic stability.

BusinessEconomicsMacroeconomics Publisher: Edward Elgar Publishing Ltd Publication Date: 09/08/1990 ISBN-13: 9781852780906  Details: Type: Hardback Format: Books
Availability: Currently unavailable. Foyles can order for despatch to customer when the publisher is re-supplied on 09/08/1990.  

Andrew Henley, Aberystwyth University, UK

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