Edmund Phelps on Productivity Slowdown: Limits to Utilitarian Economics
| Autor: | S.P. Chakravarty |
|---|---|
| Rok vydání: | 2016 |
| Předmět: |
Public economics
Poverty Inequality Slowdown media_common.quotation_subject 05 social sciences Neoclassical economics 0502 economics and business Nobel laureate International political economy Economics General Earth and Planetary Sciences Science policy 050207 economics Productivity Game theory 050205 econometrics General Environmental Science media_common |
| Zdroj: | Homo Oeconomicus. 33:357-365 |
| ISSN: | 2366-6161 0943-0180 |
| DOI: | 10.1007/s41412-016-0029-9 |
| Popis: | Nobel Laureate economist Edmund Phelps blames the increasing marginalisation of a large number of workers in unstimulating jobs on low wages as a contributory factor to productivity slowdown in the West. He blames utilitarian economics because it cannot accommodate the idea of social inclusion. In our view, the problem is best understood as a manifestation of the poverty of the theory of prices governing the allocation of resources. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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