The Effect of Labor's Bargaining Power on Wealth Inequality in the UK,USA, And France

This paper analyses the determinants of wealth inequality, measured as the share of wealth owned by the top 1 percent wealthiest individuals. We find that labor's bargaining power is a significant and important determinant of top wealth shares. Using a semi-structural vector autoregression (SVAR) model for the period 1970–2019, we estimate that shocks to labor's bargaining power explain 32 percent, 8 percent and 32 percent of the variation around the long-term trend in wealth inequality in the UK, USA and France, respectively.     

Beyond the crisis: the social economy, prop of a new model of sustainable economic development

This article analyzes the social economy (SE) as a third major sector between the public economy and the capitalist private economy. It examines the SE concept, compares it with the nonprofit sector and analyzes its microeconomic foundations, functions in the economic system and implications for economic policy. The field of economic analysis needs to be broadened, abandoning the mainstream monism that emphasizes the study of capitalist private enterprises and taking a plural view of the economy. In this approach, other forms of business organization, particularly SE enterprises, become a priority for analysis, opening up new scientific, social and economic vistas.