SLIDE 1
- Wages income and wealth inequalities
Atkinson
- Economic crisis
Galbraith
- Work inequality is multidimensional: wages, employment
status, working conditions…
- A potential common disease: the exhaustion of labour
The inegalitarian syndrome and the exhaustion of labour Philippe - - PowerPoint PPT Presentation
The inegalitarian syndrome and the exhaustion of labour Philippe - - PowerPoint PPT Presentation
The inegalitarian syndrome and the exhaustion of labour Philippe Askenazy Wages income and wealth inequalities Atkinson Economic crisis Galbraith Work inequality is multidimensional: wages, employment status, working
SLIDE 2
SLIDE 3
Large inequality in working conditions
Procedural autonomy by detailed occupation and gender
EU 27, European Working Conditions Survey 2010
SLIDE 4
Work intensification
40,0% 45,0% 50,0% 55,0% 60,0% 65,0% 70,0% 75,0% 80,0% 1991 1995 2000 2005 2010 Total High‐skilled clerical Low‐skilled clerical High‐skilled manual Low‐skilled manual
Working at very high speed to tight deadlines
At least a quarter of the time. EC12 EWCS 1991-2010
40,0% 45,0% 50,0% 55,0% 60,0% 65,0% 70,0% 75,0% 80,0% 1991 1995 2000 2005 2010 Total High‐skilled clerical Low‐skilled clerical High‐skilled manual Low‐skilled manual
SLIDE 5
The productive model and its interactions
Work organisation
Technology Globalisation Market structure Labour relations Labour policies Labour market
SLIDE 6
Productivity growth based on intensification and flexibility is –at best- bounded
Labour productivity annual growth. 1995-2011
Selected countries, OECD
‐0,5 0,5 1 1,5 2 2,5 3 3,5 US UK FR GE IT SP 1996‐99 2000‐03 2004‐07 2008‐11
SLIDE 7
From intensification to exhaustion
Job unsustainability. EU27, ECWS 2010
SLIDE 8
From intensification to exhaustion
10 11 12 13 14 15 16 17 18 19 20 2005‐07 LE without AL 2008‐10 LE without AL 2005‐07 LE with AL 2008‐10 LE with AL Men Women
Life expectancy at 50 with and without activity limitation. 2005-07 and 2008-10. EU15, SILC-Eurostat
SLIDE 9
Symptoms: I ncome/ wealth inequality and economic crisis
- Weakening position of most workers (+ in some countries
productivity gains) = rents extracted from labour
- Capture of rents
- = > Rising income and wealth inequalities
- Large wealth inequality + exhaustion of the productive
model = search for sources of profits
- = > boom of finance, bubbles…
- = > inefficient allocation of investments
SLIDE 10
Symptoms: I ncome/ wealth inequality and economic crisis
- Poor growth perspectives
- = > doubts on the sustainability of sovereign debts and
welfare states
SLIDE 11
The European response
- Austerity = > no demand
- ECB and BoE flood markets = > poor cleansing effect of
recession
- = > null productivity growth
Labour productivity annual growth: the Great Recession versus the previous recession in the 90’s
‐0,5 0,5 1 1,5 2 2,5 3 3,5 US UK FR GE IT SP 1990‐93 or 92‐95 2008‐11
SLIDE 12
The European response
- = > short term: “low” unemployment except for youth
- = > short term: apparent success of some “structural”
reforms, e.g. pension schemes
- = > short term: social and political sustainability of an
economic suicide?
SLIDE 13
Towards a new productive model?
SLIDE 14
SLIDE 15