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This book examines the causes and consequences of falling wages and rising inequality in income distribution. It presents new empirical and ecometric evidence on the potential impact of the shift in income from the poor and middle class to the wealthy. The contributors also analyze policy implications and strategies for a wage-led recovery that would alleviate the global problems associated with rising household debt and with new mercantilist policies based on wage moderation. The book provides an overarching framework that will prove invaluable to researchers and policymakers. Contributors include Giorgos Galanis (University of Warwick, UK and the New Ecomics Foundation), Eckhard Hein (Berlin School of Ecomics and Law), Marc Lavoie (University of Ottawa, Canada), Matthias Mundt (Berlin School of Ecomics, Germany), C.W.M. Naastepad (Delft University of Techlogy, the Netherlands), Ozlem Onaran (University of Greenwich, UK), Engelbert Stockhammer (Kingston University, UK), Servaas Storm (Delft University of Techlogy), Simon Sturn (University of Massachusetts at Amherst, USA), and Till van Treeck (Macroecomic Policy Institute at Hans Boeckler Foundation and University of Duisburg-Essen).
Marc Lavoie is professor in the department of economics at the University of Ottawa, Canada and an IMK Research Fellow. He is a managing coeditor of the European Journal of Economics and Economic Policy: Intervention and coeditor of In Defense of Post-Keynesian and Heterodox Economics . Engelbert Stockhammer is professor of economics at Kingston University, London, UK. He is the author of The Rise of Unemployment in Europe and is coeditor of Modern Guide to Keynesian Economics and Economic Policies .