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Capitalism, Unemployment and the Transition to the Contemporary Pattern of Growth

AutorPetith, Howard
Palabras claveCapitalism
Marx, Karl
Great Britain
Unemployment
Fecha de publicación3-jun-2005
SerieUFAE and IAE Working Papers
649.05
ResumenA new model of unemployment based on an idea of Marx is presented and used to interpret the development of the British economy from the beginning of capitalism to the present. It is shown that unemployment may be created purposely by capitalists in order to weaken the bargaining position of the workers. This mechanism leads to complex temporal pattern of unemployment and can explain why wages took almost a century and a half to react to the growing capital to labour ratio that characterised early British capitalism.
URIhttp://hdl.handle.net/10261/1740
Aparece en las colecciones: (IAE) Informes y documentos de trabajo
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