nep-pke New Economics Papers
on Post Keynesian Economics
Issue of 2022‒08‒29
three papers chosen by
Karl Petrick
Western New England University

  1. When mainstream economics does human resource management: a critique of personnel economics’ prescriptive ambition By Franck Bailly
  2. Economic Theory and Policy Today: Lessons from Barbara Wootton and the Creation of the British Welfare State By Alves, C.; Guizzo, D.
  3. Distributive conflict and the end of Brazilian economy's "Brief Golden Age" By Serrano, Franklin; Summa, Ricardo de Figueiredo

  1. By: Franck Bailly (LASTA - Laboratoire d'Analyse des Sociétés, Transformations et Adaptations - UNIROUEN - Université de Rouen Normandie - NU - Normandie Université)
    Abstract: Under the impetus of Edward Lazear, personnel economics has established itself as a particularly dynamic area of mainstream labour economics. It aspires to provide the best solutions to the practical problems that human resource managers encounter. The following paper aims to do the following: summarize the criticisms of personnel economics made from the perspective of heterodox economics, add a new criticism, and show how these criticisms, taken together, lead us to conclude that modes of labour management are legitimate subjects of debate, contrary to Lazear's beliefs.
    Keywords: Labour economics,personnel economics,heterodox economics,imperialism,discussion of HRM decisions
    Date: 2022–06–29
  2. By: Alves, C.; Guizzo, D.
    Abstract: This article investigates Barbara Wootton’s contribution to the creation of the welfare state in Britain through her interpretation and adaptation of economic theory to support social policy. It revisits Wootton’s Lament for Economics (1938) and explores unpublished archives showing her considerable engagement in public discussions on government spending, employment, poverty alleviation and her interaction with William Beveridge’s epoch defining welfare plan for Britain. We claim that her critique of economic theory for being an abstract science confined to equilibrium states, combined with her acute observation of social reality, allowed Wootton to cut free from established modes of economic thought. This laid the foundation for pioneering insights justifying an interventionist welfare state based on real-world issues and concepts of social justice, rather than self-interest and market failure principles.
    Keywords: Economic Methodology, Market Failure, Neoclassical Economics, Social Policy, Welfare State
    JEL: B22 B31 B41
    Date: 2022–08–12
  3. By: Serrano, Franklin; Summa, Ricardo de Figueiredo
    Abstract: The aim of this paper is to discuss the main causes of the interruption of the process of socially inclusive growth that occurred in the Brazilian economy from the mid-2000s, which we will call the Brazilian economy's "Brief Golden Age". Our analysis is based on two central hypotheses. The first is that, for a number of structural reasons, this process generated an "undesired revolution" in the Brazilian labor market, which strengthened workers' bargaining power and generated a tendency of real wages growing more than productivity. The second is that the interruption of this process of socially inclusive growth from 2015 onwards occurred as an effect of this intensification of the distributive conflict, indirectly, by the political pressure exerted by the capitalist class (and its allies) on the government to change the economic policy stance and create conditions for the resolution of the distributive conflict in favor of capital, and not for economic or political effects acting directly on private investment.
    Keywords: distributive conflict,induced investment,political economy,Brazilian economy
    JEL: B51 D30 E11 P16
    Date: 2022

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