Jun 19 2011
Para os “Sebastianistas dos Transaccionáveis” e os indefectiveis da solução milagrosa TSU, junta-se um pequeno excerto do artigo de Simon Tilford no “Project Syndicate”:
“Indeed, the secular decline in the proportion of national income accounted for by wages and salaries over the last 10 years in nearly every EU economy is a major obstacle to a recovery in private consumption. And the flipside of the decline in wage and salaries – a steep rise in the proportion of national income accounted for by corporate profits – has not resulted in booming investment.
This should come as no surprise. An individual firm can cut wages without undermining demand for whatever good or service it produces. But if all firms cut wages simultaneously, the resulting weakness of overall demand undermines companies’ incentives to invest, in turn depressing productivity growth.
In short, cutting the proportion of national income accounted for by wages, accepting a secular rise in inequality, and boosting the proportion of national income accounted for by corporate profits is no way to deliver sustainable economic growth. But that is precisely what happens when governments believe that economic salvation lies in winning a growing share of export markets.”
Como sempre, equilibrio e bom senso recomendam-se. Vivamente.
Artigo completo aqui:
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