Your browser does not support JavaScript!

Notes and Discussions - The Question of High Wages and a Proposal by J.M. Keynes

digital Notes and Discussions - The Question of High Wages and a Proposal by J.M. Keynes
Article
journal RIVISTA INTERNAZIONALE DI SCIENZE SOCIALI
issue RIVISTA INTERNAZIONALE DI SCIENZE SOCIALI - 2011 - 3-4
title Notes and Discussions - The Question of High Wages and a Proposal by J.M. Keynes
author
publisher Vita e Pensiero
format Article | Pdf
online since 2011
issn 0035-676X (print) | 1827-7918 (digital)
Download

Ebook format Pdf readable on these devices:

The article discusses Keynes’s proposal contained in ‘‘The Question of High Wages’’ (1930) and Pagni’s criticism against it. In the article there emerges the author’s aversion to Pagni’s thesis: wage rises reduce firms’ self-financing margins, and, more in general, the savings of entrepreneurs whence come investment and, consequently, employment. Vito is not completely against high wages, but only if they are within the limits set by economic law: ‘‘Limits are set on social policy; that believing to be allowed to cross these limits undermines the whole social economy and in particular the working class’’.

Key words: theory of wages; J.M. Keynes; C. Pagni; wages and social policy.

JEL Classification: B2, B31, E12, E24.

Pinterest