How Capitalism Endogenously Creates Rising Income Inequality and Economic Crisis: The Macro Political Economy Model of Early Industrial Relations
本文揭示并形式化了新政前制度/产业关系经济学家提出的宏观政治经济学模型，用三部分图表解释工资停滞和收入不平等在引发大萧条和世界金融危机中的作用及政策应对。
A major economic issue today is the causes and consequences of wage stagnation and rising income inequality. This paper uncovers, describes, and formalizes the macro political economy model developed by pre–New Deal institutional/industrial relations economists to explain these issues. The model is formalized in a three‐part diagram and used to explain the role of inequality and wage stagnation in causing the Great Depression and World Financial Crisis and the appropriate policy responses.