dc.contributor.author | NUTI, Domenico Mario | |
dc.date.accessioned | 2012-07-20T13:50:33Z | |
dc.date.available | 2012-07-20T13:50:33Z | |
dc.date.issued | 1986 | |
dc.identifier.citation | Florence : European University Institute, 1986 | |
dc.identifier.uri | https://hdl.handle.net/1814/23107 | |
dc.description | First made available online in May 2015. | |
dc.description.abstract | It has long been established that pay formulas containing an element of profit-sharing have non-inflationary employment promotion properties (Vanek, 1965), except in self-managed enterprises (e.g. Vanek, 1970). In recent literature economy-wide profit-sharing combined with workers' strict exclusion from employment decisions is being promoted as a scheme guaranteeing the achievement of a blissful state of non-inflationary excess demand for labour, absorbing all or part of possible deflationary shocks (Weitzman, 1983, 1984, 1985a, 1985b, 1986). Weitzman's proposal is reminiscent of the set-up in Catch-22, where a wheeler-dealer retrades and speculates with army supplies originally meant for the soldiers, who are supposed instead to benefit from their share in the profit of his operations; everybody has a share, nobody has a say, and the main beneficiary of the scheme is its proposer. The purpose of this paper is that of separating the beneficial effects of profit-sharing which are neither new nor controversial from the new propositions put forward by Weitzman which I shall argue to be overclaims. | |
dc.format.mimetype | application/pdf | |
dc.language.iso | en | |
dc.publisher | European University Institute | en |
dc.relation.ispartofseries | EUI Working Papers | en |
dc.relation.ispartofseries | 245 | en |
dc.relation.ispartofseries | [ECO] | en |
dc.relation.hasversion | http://hdl.handle.net/1814/16788 | |
dc.rights | info:eu-repo/semantics/openAccess | |
dc.title | Profit-sharing and employment : claims and overclaims | |
dc.type | Working Paper | |
eui.subscribe.skip | true | |