Stockhammer, Engelbert; Onaran, Ozlem - In: Review of Keynesian Economics 1 (2013) 1, pp. 61-78
The paper provides an overview of the concept of wage-led growth, both as an analytical concept and as an economic policy strategy. At the core of our analysis is the distinction between wage-led and profit-led demand regimes. The Kaleckian tradition in macroeconomics asserts that a higher wage...