Inequality and the phases of capitalism
Bresser-Pereira, Luiz Carlos
O documento é disponibilizado pela fonte de origem, que mantém a versão integral e as condições de uso.
Resumo
We live in a capitalist world characterized by economic inequality. Inequality is a real curse, but it does not have to always increase. In different phases of capitalism, it may be increasing, constant, or decreasing, depending on the dominant type of technical progress (capital-using, capital-neutral, or capitalsaving), on the organizational capacity of the workers, on the competition from other countries with lower wages, and on the prevailing degree of democracy. But distribution faces an economic constraint: the expected profit rate must remain attractive to business entrepreneurs. From the mid-twentieth century, we would expect technological progress to change from neutral to capital-saving, which would allow wages to increase at a faster rate than productivity. Indeed, this happened in the Golden Years of capitalism, but such progress stalled in the succeeding neoliberal years, dominated as they were by a class coalition of rentier capitalists and financiers. © 2014 The Association for Social Economics.
Ficha do documento
- Tipo
- Artigo científico
- Ano
- 2014
- Instituição
- Taylor and Francis Inc.
- Fonte
- Repositório da FGV
- Idioma
- Inglês
- Acesso
- Acesso restrito
- Identificador
- oai:repositorio.fgv.br:10438/25506
Conteúdos relacionados
- EstudoThe inequality curseEscola de Economia de São Paulo · 2010
- Artigo científicoBuen Vivir AndinoEscola Brasileira de AdEscola Brasileira de Administração Pública e de Empresas da Fundação Getulio Vargas (FGV EBAPE) · 2017
- EstudoRentier-financier capitalismEscola de Economia de São Paulo · 2018
- EstudoSecular stagnation in the framework of rentier-financier capitalism and globalizationEscola de Economia de São Paulo · 2017
