A model of labor-constrained accumulation and economically directed technical progress has a stable steady state at which the class distribution of income is invariant with respect to population and saving parameters yet sensitive to workers' stances in wage bargaining and to the tax and...

The equalization of profit rates across industries subject to firm-level bargaining over wages generates an interindustry wage structure with higher wages in capital-intensive sectors. The familiar inverse wage-profit relation gives way to a wage-wage- . . . -wage-profit surface on which...