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Vol. 38 No. 2 2012 >

Please use this identifier to cite or link to this item: http://hdl.handle.net/2328/26236

Title: Keynes versus the Classics in the 1970s
Authors: Isaac, J
Keywords: Employment
Australia
Economic inflation
Issue Date: 2012
Publisher: National Institute of Labour Studies
Citation: Isaac, J., 2012. Keynes versus the Classics in the 1970s. Australian Bulletin of Labour, Vol. 38 No. 2, pp. 96-110.
Abstract: The wage inflation and unemployment in Australia during the 1970s have been analysed by many writers. With the benefit of hindsight, this paper examines the facts and assumptions of earlier writings in connection with various questions — whether centralisation of wage determination was a factor in the wage inflation, the circumstances leading to the wage indexation system, why the system failed, and whether reduced trade union density and enterprise bargaining after the 1990s were responsible for more moderate wage increases and reduced industrial strife. The paper notes the neglect in earlier discussion of the importance of trade protection and globalisation in the operation of the labour market.
URI: http://hdl.handle.net/2328/26236
ISSN: 0311-6336
Appears in Collections:Vol. 38 No. 2 2012

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