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Full-Text Articles in Economics
Biased Technical Change, Institutional Shift, And The Functional Distribution Of Income: Who Benefits From Economic Growth?, Adam Szymanski-Burgos
Biased Technical Change, Institutional Shift, And The Functional Distribution Of Income: Who Benefits From Economic Growth?, Adam Szymanski-Burgos
Electronic Theses and Dissertations
Starting from the mid 1970s and early 1980’s, the US and other advanced economies observed a widening divergence between the growth of average and median real hourly labor compensation and the average growth of labor productivity. This decoupling between labor compensation and productivity indicates a decline in the labor share of national income. Opposite to movements in the labor share, the share of national income remunerated as capital income has increased with the rise of capital incomes concentrated largely in corporate sector profits. Key developments since the middle of the 20th century have coincided with the onset of medium-run fluctuations …