Stockhammer, Engelbert; Stehrer, Robert - In: Review of Radical Political Economics 43 (2011) 4, pp. 506-522
In a seminal paper on Marxian business cycle theory, Goodwin (1967) presented a model which assumed that a higher wage share leads to lower investment and thus a general economic slowdown. In contrast Kalecki (1971) was arguing that a higher wage share would have an expansionary effect because...