scholarly journals El empobrecimiento de los trabajadores como fuente de excedente en economías con débil dinámica productiva: Argentina desde mediados del siglo XX

2010 ◽  
pp. 231 ◽  
Author(s):  
Damián Kennedy ◽  
Juan M. Graña
Keyword(s):  
Working Class ◽  
Real Wage ◽  
Manufacturing Sector ◽  
Developed Countries ◽  
The Real ◽  
Economic Process ◽  
Functional Distribution ◽  
The 1950S ◽  
Siglo Xx ◽  
Distribution Of Income

Este trabajo se propone analizar el desempeño de la economía argentina desde mediados del siglo XX, recurriendo al análisis de la distribución funcional del ingreso y sus componentes –salario real y la productividad–, tanto para la economía agregada como para el sector industrial.<br />A partir de la comparación con un conjunto de países desarrollados (Estados Unidos, Francia, Italia, Japón y España), encontramos que dichas variables presentan desde mediados de la década del setenta una evolución particularmente llamativa: la productividad crece a un ritmo inferior –incluso con momentos de caída o estancamiento– y el salario real retrocede marcadamente.<br />En este marco, discutimos la explicación según la cual el empobrecimiento de los trabajadores argentinos es el resultado del proceso de desindustrialización sufrido –aunque sus indicadores se verifican con similar intensidad en aquellos países–, cambiando el eje hacia el débil desempeño de la productividad -y la consecuente ampliación de su brecha relativa–, que implica mayores costos para las empresas, que deben ser compensados con fuentes extraordinarias de ganancia. Una de ellas es, claro está, el salario real, de modo que el empobrecimiento de los trabajadores en Argentina resulta una pieza necesaria en el marco de la forma que adopta el proceso económico.<br /><br />This paper analyses the performance of the Argentine economy since the 1950s, through the analysis of the functional distribution of income and its components –real wage and productivity– for the economy and especially the manufacturing sector.<br />Through comparisons with a group of developed countries (France, Italy, Japan and Spain, USA), we find that those variables have a striking evolution: the productivity grows at an inferior rate –including periods of stagnation– and the real wage falls dramatically.<br />We then challenge the existing explanation of the impoverishment of the Argentine working class: the decline of our manufacturing sector. Since Argentinean indicators are no different than those of other countries, we emphasize the weak performance of the productivity –and the growth of the relative gap- that means higher costs for the firms, that must be compensated with extraordinary sources of profit. One of them is the real wage, and therefore the impoverishment of Argentine workers is a necessary piece of the economic process.<br />

scholarly journals Wage Flexibility in Russia: Empirical Evidence from Microdata Analysis

2019 ◽  
Vol 14 (4) ◽  
pp. 96-119 ◽  
Keyword(s):  
Real Wage ◽  
Analytical Data ◽  
Developed Countries ◽  
Average Wage ◽  
Wage Dynamics ◽  
Wage Elasticity ◽  
The Real ◽  
Wage Flexibility ◽  
Different Types ◽  
The City

The paper discusses the real wage elasticity to unemployment and GDP in Russia. An approach based on panel microdata about earnings of individuals has been applied. This methodology helps to avoid a number of difficulties that are created when aggregated analytical data on the average wage dynamics are used. The study has indicated some conclusions. Firstly, a review of estimations from other countries based on the same methodology is provided. The results confirm the conclusion about higher wage elasticity to unemployment in Russia than in many developed countries. However, the real wage elasticity to GDP in Russia is comparable with the same elasticity in other countries. Secondly, the use of microdata facilitates the evaluation of real wage flexibility for particular groups of workers and for different types of jobs: in other words, the heterogeneity of wage flexibility. As shown by calculations, wage flexibility is higher for young men living in the city and working in the private or informal sector of the economy. Moreover, it was found that wage flexibility of workers who have changed jobs during the year is higher than that of those who have remained with the same employer. Thus, interfirm mobility contributes to high wage flexibility in Russia: during economic growth employees, on average, newly start better paid jobs, whereas during crises they switch to low-paid jobs.

Global Financial Crisis and Its Impact on Russia

2009 ◽  
pp. 9-27 ◽  
Author(s):  
A. Kudrin
Keyword(s):  
Monetary Policy ◽  
Fiscal Policy ◽  
Financial Crisis ◽  
Central Bank ◽  
Global Financial Crisis ◽  
Developed Countries ◽  
Real Economy ◽  
Energy Prices ◽  
Russian Government ◽  
The Real

The article examines the causes of origin and manifestation of the current global financial crisis and the policies adopted in developed countries in 2007—2008 to deal with it. It considers the effects of the financial crisis on Russia’s economy and monetary policy of the Central Bank in the current conditions as well as the main guidelines for the fiscal policy under different energy prices. The measures for fighting the crisis that the Russian government and the Central Bank use to support the real economy are described.

Reducing the Risks of the Financial Sector to Ensure Sustainable Growth of the Russian Еconomy

2019 ◽  
Vol 12 (3) ◽  
pp. 86-92
Author(s):  
T. I. Minina ◽  
V. V. Skalkin
Keyword(s):  
Economic Growth ◽  
Monetary Policy ◽  
Financial Sector ◽  
Developed Countries ◽  
Sustainable Growth ◽  
Necessary Condition ◽  
Real Sector ◽  
Financial Instruments ◽  
The Real ◽  
The Impact

Russia’s entry into the top five economies of the world depends, among other things, on the development of the financial sector, being a necessary condition for the economic growth of a developed macroeconomic and macro-financial system. The financial sector represents a system of relationships for the effective collection and distribution of economic resources, their deployment according to public demand, reducing the risk of overproduction and overheating of the economy.Therefore, the subject of the research is the financial sector of the Russian economy.The purpose of the research was to formulate an approach to alleviating the risks of increasing financial costs in the real sector of the economy by reducing the impact of endogenous risks expressed as financial asset “bubbles” using the experience of developed countries in the monetary policy.The paper analyzes a macroeconomic model applied to the financial sector. It is established that the economic growth is determined by the growth and, more important, the qualitative development of the financial sector, which leads to two phenomena: overproduction in the real sector and an increase in asset prices in the financial sector, with a debt load in both the real and financial sectors. This results in decreasing the interest rate of the mega-regulator to near-zero values. In this case, since the mechanisms of the conventional monetary policy do not work, the unconventional monetary policy is used when the mega-regulator buys out derivative financial instruments from systemically important institutions. As a conclusion, given deflationally low rates, it is proposed that the megaregulator should issue its own derivative financial instruments and place them in the financial market.

Australia—The Hidden Jewel

2018 ◽  
Author(s):  
Mahesh K. Joshi ◽  
J.R. Klein
Keyword(s):  
Natural Resources ◽  
Value Chain ◽  
Global Economy ◽  
Good Governance ◽  
Developing Economies ◽  
Raw Materials ◽  
Manufacturing Sector ◽  
Developed Countries ◽  
The United States ◽  
Dutch Disease

The twenty-first century is being touted as the Asian century. With its stable economy, good governance, education system, and above all the abundant natural resources, will Australia to take its place in the global economy by becoming more entrepreneurial and accelerating its rate of growth, or will it get infected with the so-called Dutch disease? It has been successful in managing trade ties with fast-developing economies like China and India as well as developed countries like the United States. It has participated in the growth of China by providing iron ore and coal. Because it is a low-risk country, it has enabled inflow of large foreign capital investments. A lot will depend on its capability and willingness to invest the capital available in entrepreneurial ventures, its ability to capture the full value chain of natural resources, and to export the finished products instead of raw materials, while building a robust manufacturing sector.

Real world heart failure epidemiology and outcome: a population-based analysis of 1,990,162 heart failure patients

2020 ◽  
Vol 41 (Supplement_2) ◽  
Author(s):  
P Leszek ◽  
M Zaleska-Kociecka ◽  
D Was ◽  
K Witczak ◽  
K Bartolik ◽  
...  
Keyword(s):  
Heart Failure ◽  
Real World ◽  
Age Groups ◽  
Developed Countries ◽  
Funding Source ◽  
Newly Diagnosed ◽  
The European Union ◽  
Ministry Of Health ◽  
The Real ◽  
Incidence Prevalence

Abstract Background Heart failure (HF) is the leading cause of death and hospitalization in developed countries. Most of the information about HF is based on selected cohorts, the real epidemiology of HF is scarce. Purpose To assess trends in the real world incidence, prevalence and mortality of all in-and outpatients with HF who presented in public health system in 2009–2018 in Poland. Methods It is a retrospective analysis of 1,990,162 patients who presented with HF in Poland in years 2009–2018. It is a part of nationwide Polish Ministry of Health registry that collects detailed information for the entire Polish population (38,495,659 in 2013) since 2009. Detailed data within the registry were collected since 2013. HF was recorded if HF diagnosis was coded (ICD-10). Results The incidence of HF in Poland fell down from 2013 to reach 127,036 newly diagnosed cases (330 per 100,000 population) in 2018 that equals to 43.6% drop. This decrease was mainly driven by marked reduction in females (p&lt;0.001; Fig. 1A) and HF of ischaemic etiology (HF-IE vs HF-nonIE, Fig. 1B. p&lt;0.001). The HF incidence per 100,000 population decreased across all age groups with the greatest drop in the youngest (Table 1). The prevalence rose by 11.6% to reach 1,242,129 (3233 per 100,000 population) in 2018 with significantly greater increase in females and HF-IE (both p&lt;0.0001, Fig. 1C and D, respectively). The HF prevalence per 100,000 population increased across all age groups except for the 70–79 years old. (Table 1). Mortality increased by 28.5% to reach 142,379 cases (370 per 100,000 population) in 2018. The rise was more pronounced among females (p=0.015, Fig. 1E) and in HF-IE (p&lt;0.001, Fig. 1F). The HF mortality per 100 000 population increased across all age groups, except for the 50–59 subgroup (Table 1). Conclusions Heart failure incidence plummeted in years 2013–2018 in Poland due to drop in newly diagnosed HF-IE. Despite that fact, the prevalence and mortality increased with rising trends in HF-IE. Figure 1. Incidence, prevalence, mortality trends Funding Acknowledgement Type of funding source: Public grant(s) – EU funding. Main funding source(s): The project is co-financed by the European Union from the European Social Fund under the Operational Programme Knowledge Education Development and it is being carried out by the Analyses and Strategies Department of the Polish Ministry of Health

scholarly journals Retrospectives Whatever Happened to the Cambridge Capital Theory Controversies?

2003 ◽  
Vol 17 (1) ◽  
pp. 199-214 ◽  
Author(s):  
Avi J Cohen ◽  
G. C Harcourt
Keyword(s):  
Business Cycle ◽  
Endogenous Growth ◽  
Path Dependence ◽  
Real Business Cycle ◽  
Capital Theory ◽  
Economic Process ◽  
The 1950S ◽  
Simple Models

We argue that the Cambridge capital theory controversies of the 1950s to 1970s were the latest in a series of still-unresolved controversies over three deep issues: explaining and justifying the return to capital; Joan Robinson's complaint that, due to path dependence, equilibrium is not an outcome of an economic process and therefore an inadequate tool for analyzing accumulation and growth; and the role of ideology and vision in fuelling controversy when results of simple models are not robust. We predict these important and relevant issues, latent in endogenous growth and real business cycle theories, will erupt in future controversy.

South African Black Trade Unions as an Emerging Working-Class Movement

1989 ◽  
Vol 27 (3) ◽  
pp. 383-400 ◽  
Author(s):  
Anthony W. Marx
Keyword(s):  
Working Class ◽  
South African ◽  
Trade Unions ◽  
Manufacturing Sector ◽  
Political Engagement ◽  
Labour Unions ◽  
Industrial Manufacturing ◽  
Union Movement ◽  
African Black ◽  
New Phase

The Recent resumption of popular protest signals a new phase in South Africa's internal opposition, characterised notably by the rising political engagement of black labour unions and their federations. Membership in these unions has reached over a million workers, reflecting the dramatic expansion of South Africa's industrial manufacturing sector in the last 20 years. With severe restrictions placed on the leading national and local political organisations since 1985, the unions have developed beyond their initially narrow concerns for their members into the forefront of opposition to established economic and political order. As a result, class consciousness and working-class organisation have increasingly been combined with, and taken precedence over, previous conceptions of opposition based on racial and national identity. This development has exacerbated both remaining ideological divisions and pressures for united action within the union movement.

Consumers Preferences, Subsistence and Real Wage

1993 ◽  
Author(s):  
D. Andrews
Keyword(s):  
Political Economy ◽  
Real Wage ◽  
Consumer Preference ◽  
Sharp Contrast ◽  
Index Number ◽  
Neoclassical Theory ◽  
The Real ◽  
Individual Consumer ◽  
Classical Political Economy

In classical political economy, the real wage derives its reality from its association with a given set of products that provides for the subsistence of workers through time. In neoclassical theory the connection between the real wage and a given set of products is broken, because the restriction of workers’ consumption to a particular set of products conflicts with the idea of individual consumer preference. Thus, the ‘reality’ of the real wage in neoclassical theory is grounded differently, in a particular standard of value that can be called an index number standard. The difficulties involved with this construction raise questions about the theoretical adequacy of the notion of real wage itself. In particular, this leads to a conclusion that stands in sharp contrast to the empiricist proclamations of neoclassical theory.

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