Inflation, wages and equality: cross-disciplinary conversations
Edwards, P., Baden-Fuller, C. 
ORCID: 0000-0002-0230-1144, Pissarides, C. , Rubery, J., Crouch, C. & Taylor-Gooby, P. (2023).
Inflation, wages and equality: cross-disciplinary conversations.
Journal of the British Academy, 11,
pp. 25-41.
doi: 10.5871/jba/011.025
Abstract
Rising inflation and a wave of strikes during 2022 have aroused echoes of the 1970s. In this article, experts from the fields of economics, sociology and social policy consider what has changed, what remains the same, and what the lessons might be – with a notable degree of agreement. Raising wages, particularly for the lower-paid groups in the public sector, is likely to reduce poverty and has a very low risk of generating further price inflation. Giving in on pay will be costly, and may have to be funded by taxes in the short term. In the longer run the only way out of our difficulties will be more effective growth generated through improved productivity.
| Publication Type: | Article |
|---|---|
| Additional Information: | © The author(s) 2023. This is an open access article licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 4.0 Unported License |
| Publisher Keywords: | Inflation, wages, poverty, trade unions, strikes, productivity |
| Subjects: | H Social Sciences > HC Economic History and Conditions H Social Sciences > HD Industries. Land use. Labor H Social Sciences > HJ Public Finance H Social Sciences > HN Social history and conditions. Social problems. Social reform |
| Departments: | Bayes Business School Bayes Business School > Faculty of Management |
| SWORD Depositor: |
Available under License Creative Commons Attribution Non-commercial No Derivatives.
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