Comparing a process of labor- and capital-augmenting technical change directed by capitalists' maximization of profits with a counterfactual in which decentralized innovation decisions are governed by noncapitalist property relations, I claim that if the two economies start from the same...

The equalization of profit rates across a multisector production economy subject to Nash bargaining over wages supports an industry wage structure like those that account for a large fraction of actual wage dispersion and a wage-wage- . . . -wage-profit surface on which the general profit rate...

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...