Inequality and Recession in Britain and the USA

摘要: For two of the richest English-speaking countries, Britain and United States, growing income inequality has been a persistent feature past thirty years, leading some economists to question cosy assumption that as economic development proceeds, intra-country must ultimately fall. Various hypotheses have advanced explain this phenomenon, best known being technological revolution driven wedge between skilled unskilled labour, but none is remotely convincing. Fundamentally, it political economy whether under conditions stagnant real wages falling wage share, growth in deregulated, finance-driven economies can last. The argument here probably cannot. profit squeeze 1970s having given way neoliberal squeeze, came depend on asset bubble consumption investment. Great Recession 2008 raises questions not merely about beliefs, future capitalist occur unless investment socialized.