Labour share of income (Part 5: The quandary of labour reform) Phuah Eng Chye (23 June 2018) Corporations set wages and hence determine the distribution of income. In the early phases of industrialisation, public abhorrence over appalling work and social conditions galvanised governments to introduce labour legislation and institutions (trade unions) to protect ordinary workers. … “Labour share of income (Part 5: The quandary of labour reform)”
Tag: Council of Economic Advisers
Labour share of income (Part 2 – The difficulty of overcoming wage stagnation)
Labour share of income (Part 2 – The difficulty of overcoming wage stagnation) Phuah Eng Chye (2 June 2018) In the 1970s, policy makers were concerned by how wage rises were fuelling cost-push inflation. When wage stagnation emerged in Japan following the collapse of its asset markets in 1990, it was greeted as a novelty … “Labour share of income (Part 2 – The difficulty of overcoming wage stagnation)”
Labour share of income (Part 1 – Theories and measurement)
Labour share of income (Part 1 – Theories and measurement) Phuah Eng Chye (26 May 2018) At the macroeconomic level, the impact of landscape change on labour can be gauged by changes in the labour share of income or the share of national income paid in wages. Noah Smith notes “for decades, macroeconomic models assumed … “Labour share of income (Part 1 – Theories and measurement)”