Mr. Keynes reloaded – Wage-led growth
Mr. Keynes reloaded – Wage-led growth
Author(s): Flavius Rovinaru, Mihaela Rovinaru, Marcel PîrvuSubject(s): National Economy, Economic history, Political economy, Economic development
Published by: Alma Mater & Universitatea »Babes Bolyai« Cluj - Facultatea de St. Economice si Gestiunea Afacerilor
Keywords: Keynes; dirijism; 3 R’s; wage-led growth; liberalism;
Summary/Abstract: There is a new trend to establish a link between economic growth and wage growth, as a consequence of economic crisis from 2007-2009. In our paper we will try to explain the roots of such an approach, going through some ideas and theories, back till Great Depression. J.M. Keynes is the one that came with the idea of restart the economy with budgetary allocations. Since then, the idea has known ups and downs. Now, in Romania, we try to apply a similar model, with all the related, positive and negative implications. The present paper tries to analyze the current situation, starting from quantitative and qualitative elements that characterize the Romanian economy.
Journal: Review of Economic Studies and Research Virgil Madgearu
- Issue Year: XII/2019
- Issue No: 1
- Page Range: 55-71
- Page Count: 17
- Language: English
- Content File-PDF