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Wage-led growth – an alternative to finance-led capitalism?

Kingston Writing School

Tuesday, June 14, 2011 from 9:00 AM to 6:00 PM (BST)

Wage-led growth – an alternative to finance-led...

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Unreserved seating
Registration includes conference materials, refreshments and a sandwich lunch.
72 Tickets Ended Free  

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Event Details

Neoliberalism has led to a polarization in the distribution of income and given rise to a finance-led growth model that collapsed in the worst crisis since the 1930s. Wage-led growth has recently been proposed as an alternative policy strategy. It aims at linking wage growth to productivity growth and inflation. Growing wages could then generate high demand by fuelling consumption. But such a strategy could also ignite the growth of the capital stock if consumption demand has second round effects on investment, and if wage growth induces technological change and productivity growth. Thus, for a wage-growth policy to be successful, it needs be embedded in an economic policy regime that gives a greater role to labour unions and restrains the financial sector. The Workshop will introduce recent research on wage-led growth and provide a forum for critical discussion.


9.00      Registration + coffee

9.30     Opening (Simon Morgan Wortham, Associate Dean)

Introduction: Wage-led growth (Engelbert Stockhammer)

Wage-led demand and wage-led growth. Models and Evidence (10.00-12.00), chair: Julian Wells

  • Nicolas Maystre, UNCTAD: Reviving the role of domestic demand growth for employment creation
  • Ozlem Onaran, Middlesex University: Is demand wage-led or profit led? A global mapp
  • G. Fontana, M. Sawyer, and A. Rodriguez Gil, Leeds University: Taxation in the context of an endogenous NAIRU: redistribution as a growth factor



Restoring wage growth (13.30-15.30), chair: Paul Auerbach

  • Engelbert Stockhammer, Kingston University: What causes changes in functional income distribution?
  • Fidelma Murphy, Kingston University: The Spatial Restructuring of Work and Maquiladoras of the Automotive Industry
  • Karel Williams, Manchester University, and Sukhdev Johal, Royal Holloway, University of London: Unsustainable: neo liberal promises and employment portfolio outcomes

An alternative to Neoliberalism? Implementing wage-led growth(16.00-18.00), chair: Iren Levina

  • Eckhard Hein, Berlin School of Economics and Law: Financialisation and the requirements and potentials for wage-led growth
  • Tim Page, TUC: Wage led growth, the nature of industry and the need for social partnership
  • Bob Jessop, Lancaster University: Finance-Dominated Growth, Wage-Led Growth, and No-Growth Alternatives: A Cultural Political Economy Perspective


Directions for how to get to Kingston University can be found at:

Joining instructions will be sent out via email approximately one week prior to the event.

The Political Economy Research Group.
The Political Economy approach highlights the role of effective demand, institutions and social conflict in economic analysis and thereby builds on Austrian, Institutionalist, Keynesian, and Marxist traditions. Economic processes are perceived to be embedded in social relations that must be analysed in the context of historical considerations, power relations and social norms. As a consequence, a broad range of methodological approaches is employed, and cooperation with other disciplines, including history, law and other social sciences, is necessary.

Have questions about Wage-led growth – an alternative to finance-led capitalism? ? Contact Kingston Writing School

When & Where

John Galsworthy Building
Penrhyn Road Campus
Kingston University

Tuesday, June 14, 2011 from 9:00 AM to 6:00 PM (BST)

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Kingston Writing School

Kingston Writing School - part of Kingston University

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