Fiorio, Carlo V.; Mohun, Simon; Veneziani, Roberto - School of Economics and Finance, Queen Mary - 2013
democracies. In particular, the structural dependence of labour on capital severely constrains feasible income distributions. In … the structural dependence thesis. A short run profit-squeeze mechanism seems to exist, but income shares are more variable … than the structural dependence argument suggests, and the power resources available to the two main classes in the economy …