Economic Growth and the High Wage Economy

1 Free to choose or prisoner of market forces

An introduction to high wage growth

The key message of this book is that improving the material well-being of workers, even prior to immediate increases in productivity can be expected to have positive effects on productivity through its impact on economic efficiency and technological change. Improving working conditions and labor benefits can also positively impact on the direction of institution change toward facilitating the productivity increases necessary to offset expected increased production costs. When laborers’ capacity to improve their economic standing in society is repressed, this can be expected to have negative economic consequences not only for labor, but also for society at large. ...