The Political Economy Of Wages And Unemployment
A Neoclassical Exploration
William Oliver Coleman, Reader, The Australian National University, Australia
Hardback £78.00 on-line price £70.20
In this tightly argued work William Coleman explores the macroeconomic implications of politically based restraints on competition in labour markets.
Contents: 1. The Problem Labour Monopoly Might Solve 2. The Fall and Rise of Labour Monopoly Theory 3. How a Wage Bill Hill Creates a Wage Rate Floor 4. Why the Floor Will Fluctuate 5. How Bargaining May Build a Ceiling Instead of a Floor 6. How Foresight May (and may not) Defeat the Floor 7. Why the ‘Property-Owning Democracy’ May Nationalize Capital Rather than Regulate Labour 8. Unemployment as a Benefit of Unemployment Benefits 9. Why the Majority May Choose the Wage of the Minority 10. Rigidity and Volatility in the Face of the Cycle: A Neoklassikal Analysis 11. Labour Monopoly as the Source of Money Wage Rigidity: A Hypothesis 12. A Concluding Comment References Index