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Labour Markets, Social Justice and Economic Efficiency

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  • Kitson, Michael
  • Martin, Ron
  • Wilkinson, Frank

Abstract

In conventional economic theory, a trade-off supposedly exists between social justice and economic efficiency. In reality, market and other economic institutions are dominated by power relations, so that the sponsorship of social justice is a productive factor. Neo-liberal economic policies, by lifting the constraints on the exercise of unequal power, increased injustice and triggered a downward economic and social spiral. Reversing this requires a revolution in economic theory and policy focused on full employment, the working of labour markets, the organisation of work, and household organisation, social provision and self-sufficiency. Copyright 2000 by Oxford University Press.

Suggested Citation

  • Kitson, Michael & Martin, Ron & Wilkinson, Frank, 2000. "Labour Markets, Social Justice and Economic Efficiency," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 24(6), pages 631-641, November.
    • Handle: RePEc:oup:cambje:v:24:y:2000:i:6:p:631-41
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    Cited by:

    1. Luca Pieroni & Fabrizio Pompei, 2005. "Innovations and Labour Market Institutions: An Empirical Analysis of the Italian Case in the middle 90’s," Quaderni del Dipartimento di Economia, Finanza e Statistica 12/2005, Università di Perugia, Dipartimento Economia.
    2. Lutz Bellmann & Katalin Evers & Reinhard Hujer, 2018. "Regional and firm-specific effects on innovations using multi-level methods," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 61(2), pages 319-349, September.
    3. Luca Pieroni & Fabrizio Pompei, 2008. "Evaluating innovation and labour market relationships: the case of Italy," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 32(2), pages 325-347, March.

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