The Return of the Gilded Age: Consequences, Causes and Solutions
On April 8, I had the honour of delivering the Harry Kitchen Lecture in Public Policy at the invitation of the Department of Economics at Trent University.
I took the opportunity to offer a broad reflection on economic inequality, arguing that while inequality is inherent in capitalism, too much inequality undermines economic as well as social well-being. I also argue that priority has to be given to shaping the distribution of market incomes as opposed to purely redistributive solutions.
Here is the text of The Return of the Golden Age; Consequences, Causes and Solutions.
Thank you for this excellent overview. In terms of rebalancing the bargaining power of labour and capital, one proposal worth consideration is the Job Guarantee.
“Cutting through all that cant and misinformation, the concept of full employment is simple â€“ create enough jobs and working hours to satisfy the preferences of the available labour force.
That might put some upward pressure on wages â€“ so the â€œcaptains of industryâ€ who have been waxing fat on the massive redistribution of real income to profits under the neo-liberal era will have to be told that things have changed. That workers are going to, once again, enjoy their share of productivity growth.”
more on Job Guarantee: http://mmtincanada.jimdo.com/policy-issues/job-guarantee/