Golden age and golden rule in unionized economies
By: Vetter, Henrik.
Material type:
ArticlePublisher: 2007Description: p.100-07.Subject(s): Wages
In:
Review of Radical Political EconomicsSummary: 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.
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Articles
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Indian Institute of Public Administration | Volume no: 39, Issue no: 1 | Available | AR75078 |
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.
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