Weintaub's consumption coefficient: some economic implications and evidence for the UK
Article Abstract:
Weintraub's consumption coefficient, or the relationship between consumer spending and employment income, can shed light on income distribution. The coefficient is simpler, with fewer assumptions, than the approach used by Kalecki, and it allows for easier analysis of structural economic changes than Kalcecki's model. calculating the coefficient allows for non-employment, or capitalist income to be more easily assessed. The consumption coefficient has increased in the UK since 1975, while aggregate profit levels and national income have increased, and current profits have been affected. Income from employment has fallen as a percentage of national income, while the propensity to consume from non-employment income has risen.
Publication Name: Cambridge Journal of Economics
Subject: Economics
ISSN: 0309-166X
Year: 2000
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Recent developments in the industrial wage structure of the UK
Article Abstract:
Wage structure changes in the United Kingdom covering the period from 1970 to 1982 using data from New Earnings Survey, were analyzed. How industrial wage structure altered overtime for various occupations, for both sexes and of different measures of pay were shown. Wage structure ranked by residual pay and for junior non-mannual women are most stable. Energy, transport and communication, banking and finance were found to be the highest paying sectors. Overall, the industrial wage structure in UK changed slowly overtime and inter-industry pay dispersion is seldom great.
Publication Name: Cambridge Journal of Economics
Subject: Economics
ISSN: 0309-166X
Year: 1993
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Evolution and organisational choice in nineteenth-century Britain
Article Abstract:
Advocates of labor-managed firms (LMFs) flaunt the advantages of profit-sharing and workers' participation in decision-making. But LMFs are not widespread because an organizational choice is dependent upon the economic environment that surround a firm at a given point in time. In order to make LMFs viable, an institution should allow income-sharing but not decision-making and a limited liabilty to lessen risks for the investors. A recently developed theory called 'path dependency' shows how 19th-century conditions conspired against development of LMFs.
Publication Name: Cambridge Journal of Economics
Subject: Economics
ISSN: 0309-166X
Year: 1993
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