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The rising strength of management, high unemployment, and slow growth; revisiting Okun's Law

In: Capitalism on Trial

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  • Michael Reich

Abstract

This volume presents a collection of essays honoring Professor Thomas E. Weisskopf, one of the most prominent contributors to the field of radical economics. Beginning his academic career at Harvard before moving to the University of Michigan at Ann Arbor, Professor Weisskopf has spent the past forty years exploring through highly innovative and rigorous research the questions of economic equality, social justice and environmental responsibility. The chapters in this book reflect the main subjects of Professor Weisskopf’s work and seek to foster continued innovation in these research areas.

Suggested Citation

  • Michael Reich, 2013. "The rising strength of management, high unemployment, and slow growth; revisiting Okun's Law," Chapters, in: Jeannette Wicks-Lim & Robert Pollin (ed.), Capitalism on Trial, chapter 11, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:14843_11
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    References listed on IDEAS

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    1. Sylvia A. Allegretto & Arindrajit Dube & Michael Reich, 2011. "Do Minimum Wages Really Reduce Teen Employment? Accounting for Heterogeneity and Selectivity in State Panel Data," Industrial Relations: A Journal of Economy and Society, Wiley Blackwell, vol. 50(2), pages 205-240, April.
    2. Samuel Bentolila & Juan J. Dolado & Pierre Cahuc & Thomas Le Barbanchon, 2010. "Two-Tier Labor Markets in the Great Recession: France Vs. Spain," Working Papers wp2010_1009, CEMFI.
    3. Katharine G. Abraham & Henry S. Farber, 1988. "Returns to Seniority in Union and Nonunion Jobs: A New Look at the Evidence," ILR Review, Cornell University, ILR School, vol. 42(1), pages 3-19, October.
    4. E. Geoffrey Love & Nitin Nohria, 2005. "Reducing slack: the performance consequences of downsizing by large industrial firms, 1977–93," Strategic Management Journal, Wiley Blackwell, vol. 26(12), pages 1087-1108, December.
    5. Weisskopf, Thomas E, 1979. "Marxian Crisis Theory and the Rate of Profit in the Postwar U.S. Economy," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 3(4), pages 341-378, December.
    6. Katharine G. Abraham & Susan N. Houseman, 1995. "Labor Adjustment under Different Institutional Structures: A Case Study of Germany and the United States," Book chapters authored by Upjohn Institute researchers, in: Friedrich Buttler & Wolfgang Franz & Ronald Schettkat & David Soskice (ed.),Institutional Frameworks and Labor Market Performance: Comparative Views on the U.S. and German Economies, pages 285-315, W.E. Upjohn Institute for Employment Research.
    7. Henry S. Farber, 2010. "Job Loss and the Decline in Job Security in the United States," NBER Chapters, in: Labor in the New Economy, pages 223-262, National Bureau of Economic Research, Inc.
    8. Edward S. Knotek, 2007. "How useful is Okun's law?," Economic Review, Federal Reserve Bank of Kansas City, vol. 92(Q IV), pages 73-103.
    9. Hallock, Kevin F, 1998. "Layoffs, Top Executive Pay, and Firm Performance," American Economic Review, American Economic Association, vol. 88(4), pages 711-723, September.
    10. Henry S. Farber & Bruce Western, 2002. "Ronald Reagan and the Politics of Declining Union Organization," British Journal of Industrial Relations, London School of Economics, vol. 40(3), pages 385-401, September.
    11. Katharine G. Abraham & James R. Spletzer & Michael Harper, 2010. "Labor in the New Economy," NBER Books, National Bureau of Economic Research, Inc, number abra08-1.
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