This paper explores the institutional factors behind the crisis of capital accumulation in South Africa in the 1970s and 1980s. Estimations show that political instability accounted for most of the fall in the rate of accumulation, independent of distributive outcomes, such as the level of...

One aspect of the contemporary crisis of the United States economy has been a sharp increase since the mid-1960s in the reliance on debt finance by corporations, households, and the federal government. This paper focuses on the borrowing behavior of nonfinancial corporations. It first presents...

The term "living wage" has been used in two separate ways: (1) a wage rate that will enable workers and their families to live above a reasonable poverty threshold; and (2) a somewhat more ambitious standard, a wage rate that will meet a family's basic budgetary needs. Both of these concepts are...

Since 1994, so-called "living wage" ordinances have passed in 20 cities in the United States, and activists are advancing similar proposals throughout the country. These proposals are a response to the declining real wages of low-wage workers in the United States-what David Gordon termed "the...