Long-Run Changes in the Wage and Price Mechanisms and the Process of Growth

  • Paolo Sylos-Labini


If we compare the main characteristics of the growth process during the last century with our own we notice important differences, which must be taken into account in choosing the hypotheses on which to base our theoretical models. The differences between the wage and price mechanisms in the two periods are particularly interesting: it is to these mechanisms that I will devote my attention in this paper.


Market Power Trade Union Collective Bargaining Public Expenditure Money Demand 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.


Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.


  1. Beveridge, W. (1944, 1960) Full Employment in a Free Society — A Report (London: Allen and Unwin).Google Scholar
  2. Clapham, J. (1951) An Economic History of Modern Britain. Machines and National Rivalries (1857–1914), With an Epilogue (1914–1929) (Cambridge: Cambridge University Press).Google Scholar
  3. Fearon, P. (1987) War, Prosperity and Depression. The US Economy 1917–45 (Lawrence, Kansas: The University Press of Kansas).Google Scholar
  4. Hicks, J. R. (1932, 1963) The Theory of Wages (London: Macmillan).Google Scholar
  5. Kalecki, M. (1971) Essays on the Dynamics of the Capitalist Economies (Cambridge: Cambridge University Press).Google Scholar
  6. Keynes, J. M. (1925, 1972) ‘The Economic Consequences of Mr Churchill’, The Collected Writings of J. M. Keynes, ed. by D. Moggridge, Vol. I X (London: Macmillan).Google Scholar
  7. Keynes, J. M. (1926, 1980a) ‘The End of Laissez-Faire’, Collected Writings, op. cit., vol. XI.Google Scholar
  8. Keynes, J. M. (1936, 1973) The General Theory of Employment, Interest and Money, Collected Writings, cit., Vol. VII.Google Scholar
  9. Keynes, J. M. (1980b) Activities 1940–46: Shaping the Post-War World. Employment and Commodities, Collected Writings, cit., Vol. XXVII.Google Scholar
  10. Lipsey, R. G. (1960) ‘The Relation Between Unemployment and the Rate of Change of Money Wage Rates in the United Kingdom 1862–1957: A Further Analysis’, Economica, February.Google Scholar
  11. Ohlin, B. (1937) ‘Some Notes on the Stockholm Theory of Saving and Investment’, Economic Journal, March.Google Scholar
  12. Patinkin, D. (1987) ‘Keynes, John Maynard’, in The New Palgrave Dictionary of Economics, Vol. 3 (London: Macmillan).Google Scholar
  13. Phillips, A. W. (1958) ‘The Relation between Unemployment and the Rate of Change of Money Wage Rates in the United Kingdom 1861–1957’, Economica, November.Google Scholar
  14. Sylos Labini, P. (1954) ‘Monopoli, ristagno economico e politica keynesiana’, Economia internazionale, November.Google Scholar
  15. Sylos Labini, P. (1962, 1969) Oligopoly and Technical Progress (Cambridge, Mass.: Harvard University Press).Google Scholar
  16. Sylos Labini, P. (1970, 1974) Problemi dello sviluppo economico (Bari: Laterza).Google Scholar
  17. Sylos Labini, P. (1974) Trade Unions, Inflation, and Productivity (Lexington, Mass.: Saxon House).Google Scholar
  18. Sylos Labini, P. (1984) The Forces of Economic Growth and Decline (Cambridge, Mass.: MIT Press).Google Scholar
  19. The World Bank (1981, 1989), World Development Report (New York: Oxford University Press).Google Scholar

Copyright information

© Mauro Baranzini and G. C. Harcourt 1993

Authors and Affiliations

  • Paolo Sylos-Labini

There are no affiliations available

Personalised recommendations