I formulate and calibrate a small 3D classical growth cycle model to explain the rise of income inequality, growth stagnation and the persistence of unemployment in South Africa between 1970-2005. This model exhibits interactions between economic growth, the employment rate, and the rate of...

This paper by using the categories of productive and unproductive labor and by extending and further elaborating the data series utilized in Shaikh and Tonak (1994) reveals a sharp expansion of the unproductive activities in the U.S. economy during the period 1964-2007. The combination of...

Responding to criticisms of Mohun (1996) by Houston (1997) and Laibman (1999) in the RRPE, this paper explores the empirical consequences of the competing definitions proposed for productive labor, and concludes that abandoning the productive-unproductive labor distinction renders the Marxian...