A review of the tentative conclusions reached at the end of the “Financial Markets” section of the blog, in light of this section’s analysis of the importance of distribution.
A summary of one of the most important books this century, describing the profound impact of income distribution on all aspects of society, not just the economy.
Summary of paper by Nicholas Oulton on the UK “productivity puzzle” – aggregate demand and income distribution matter.
A more even income distribution will strengthen the economy as whole, and thereby make everyone better off. We need “demand-side” economics.
How we ensure that the benefits of increased productivity are distributed throughout society – not just distribution of income, but distribution of the capacity to produce.
A practical example of last week’s arguments – the potential economic and political impact of driverless cars.
A summary of a recent paper by Adair Turner on the impact of automation on unemployment and the economy in general, and the implications for social cohesion.
A demonstration that mainstream, free market economics actually has no coherent answer to what happens to surplus labour as productivity rises.
A real example of what happens when you allow an industry to decline in the name of productivity – South Wales coal-mining.
Does rising productivity cause unemployment? (Sometimes yes.)