This book examines the causes and consequences associated with the falling wage share and rising inequality in income distribution, relating to both aggregate demand and labour productivity. It presents new empirical and econometric evidence regarding the economic causes and potential impact of...

This volume seeks to go beyond the microeconomic view of wages as a cost having negative consequences on a given firm, to consider the positive macroeconomic dynamics associated with wages as a major component of aggregate demand.

The paper proposes a post-Keynesian framework to explain Tobin's q behaviour in the long run. The theoretical basis is informed by the Cambridge corporate model originally proposed by Kaldor (1966), which is reinterpreted here as a theory for q. The core of the ‘Kaldorian q theory' is a...