Open AccessKeynesian Controversies on Wages
Author(s) -
Pencavel John
Publication year - 2015
Publication title -
the economic journal
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 4.683
H-Index - 160
eISSN - 1468-0297
pISSN - 0013-0133
DOI - 10.1111/ecoj.12201
Subject(s) - economics , keynesian economics , real wages , rigidity (electromagnetism) , neoclassical economics , macroeconomics , labour economics , wage , structural engineering , engineering
In The General Theory , Keynes advanced two hypotheses about movements in wages and urged their empirical investigation. John Dunlop, Lorie Tarshis and Henry Richardson responded to this call with articles published in the Economic Journal in the late 1930s. In turn, Keynes replied to their findings. This exchange is described and the subsequent literature on the cyclical movement of real wages and the rigidity of money wages is outlined.