Vetter, Henrik
Golden age and golden rule in unionized economies - 2007 - p.100-07. - Winter
Golden Age and Golden Rule growth paths exemplify different ways to distribute income. In a recent article. Frank Thompson describes the difference between the two. In particular, the Golden Age is characterized by conflict between capital owners and workers. Despite this, workers act competitively; they are passive, taking whatever wage they are offered. In this extension and reexamination of Thompson's results, we assume that workers organize in a union when there is conflict with capitalists. - Reproduced.
Wages
Golden age and golden rule in unionized economies - 2007 - p.100-07. - Winter
Golden Age and Golden Rule growth paths exemplify different ways to distribute income. In a recent article. Frank Thompson describes the difference between the two. In particular, the Golden Age is characterized by conflict between capital owners and workers. Despite this, workers act competitively; they are passive, taking whatever wage they are offered. In this extension and reexamination of Thompson's results, we assume that workers organize in a union when there is conflict with capitalists. - Reproduced.
Wages