ReWAGE News Archive
‘Increasing pay need not be inflationary’ - ReWAGE experts in the British Academy Journal
A new British Academy Journal article, introduced by ReWAGE expert Paul Edwards, brings together thought-leaders from the fields of economics, sociology and social policy, including ReWAGE expert Jill Rubery, to consider inflation, wages and equality in the UK today.
In the article ‘Inflation, wages and equality: cross-disciplinary conversations’, the group consider such subjects as whether trade unions cause inflation or inflation cause trade unions, and the parallels with the 1970s for today’s conflicts over real living standards.
One of the group’s arguments is that raising wages, particularly for the lower-paid groups in the public sector, is likely to reduce poverty and has a very low risk of generating further price inflation.
The group concludes that in the longer run the only way out of our difficulties will be more effective growth generated through improved productivity and responding to the income inequality challenges occasioned by societies continuing pressures including the adoption of new technology.