Arbeitspapier
Managerial Pay (Cadrisme) and the Post Keynesian Growth Model
This paper examines the effects of managerial pay on the Post Keynesian model of growth and distribution. Introducing managerial pay explains why economies may exhibit both wage- and profit-led characteristics in response to changed income distribution. Second, managerial pay undoes Pasinetti's (1961/2) theorem regarding the irrelevance of worker saving behavior for long run growth outcomes. Third, managerial pay links neo-classical Marxist theory with Post Keynesian growth theory. Neo-classical Marxists focus on why firms may choose inefficient production techniques. Similar logic carries over to Post Keynesian growth theory and firms may choose techniques that lower growth because they increase profits.
- Sprache
-
Englisch
- Erschienen in
-
Series: IMK Working Paper ; No. 9/2010
- Klassifikation
-
Wirtschaft
General Aggregative Models: Keynes; Keynesian; Post-Keynesian
Aggregate Factor Income Distribution
Economic Growth and Aggregate Productivity: General
- Thema
-
Post Keynesian growth theory
managerial pay
neo-classical Marxism
Managervergütung
Postkeynesianismus
Wachstumstheorie
Verteilungstheorie
Neoklassik
Marxismus
Theorie
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Palley, Thomas I.
- Ereignis
-
Veröffentlichung
- (wer)
-
Hans-Böckler-Stiftung, Institut für Makroökonomie und Konjunkturforschung (IMK)
- (wo)
-
Düsseldorf
- (wann)
-
2010
- Handle
- URN
-
urn:nbn:de:101:1-201101312878
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Palley, Thomas I.
- Hans-Böckler-Stiftung, Institut für Makroökonomie und Konjunkturforschung (IMK)
Entstanden
- 2010
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