MR. KEYNES RELOADED – WAGE-LED GROWTH

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 ideeas and theories, back till Great Depresion. JM. Keynes is the one that came...

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Bibliographic Details
Published inReview of Economic Studies and Research Virgil Madgearu Vol. 12; no. 1; pp. 55 - 71
Main Authors Rovinaru, Flavius, Rovinaru, Mihaela, Pîrvu, Marcel
Format Journal Article
LanguageEnglish
Published Cluj-Napoca Babes Bolyai University 01.01.2019
Subjects
20th century
Economic crisis
Economic development
Economic growth
Economic life
Economic theory
Employment
Expenditures
Liberalism
New Deal
Protectionism
Raises
Socialism
Society
State budgets
Tax increases
Tax rates
Tax reform
Tax revenues
Taxable income
Taxation
Romania
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Summary: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 ideeas and theories, back till Great Depresion. JM. Keynes is the one that came with the ideea of restart the economy with budgetary allocations. Since than, the ideea 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.
ISSN:2069-0606
DOI:10.24193/RVM.2019.12.33.