2019 | 3(981) | 27-42
Article title

Rising Income Inequalities – the Causes of and Consequences for Long-term Growth

Title variants
Rosnące nierówności dochodu – przyczyny i wpływ na długookresowy wzrost
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Objective: The objective of the paper is to identify the channels through which income inequalities affect the short-term economic situation and long-term growth. Research Design & Methods: As initial research, the analysis is based on a literature review. Over the course of the review, this hypothesis was verified: inequalities have a negative impact on GDP growth rates and economic stability. Findings: The paper explains mechanisms through which inequalities affect aggregate demand, output and accumulation, accentuating immanent threats of income disparities, such as rising debt burdens (both private and public) and current-account imbalances. Implications / Recommendations: A policy alternative is proposed in the form of a wage-led growth strategy. This will strengthen the position of workers in the economy and thus allow the wage share to grow at least apace with productivity gains. Contribution: The concept of wage-led growth is rarely discussed in the mainstream literature and deserves more attention.
Cel: Celem artykułu jest określenie kanałów, poprzez które nierówności dochodu wpływają na krótkookresową sytuację gospodarczą oraz wzrost w długim okresie. Metodyka badań: Artykuł jest wstępem do dalszych badań. Stanowi przegląd istniejącej literatury przedmiotu, co pozwala poddać weryfikacji hipotezę, że nierówności niekorzystnie oddziałują na stopy wzrostu oraz stabilność gospodarki. Wyniki badań: Przedstawiono mechanizmy, poprzez które nierówności dochodu oddziałują na popyt globalny, produkcję i akumulację kapitału (rzeczowego i ludzkiego), kładąc nacisk na zagrożenia z tym związane, takie jak wzrost zadłużenia prywatnego i publicznego oraz deficyty na rachunkach obrotów bieżących. Wnioski: Zaproponowano alternatywną strategię wzrostu opartego na płacach (wage-led growth strategy) – polega ona na wzmocnieniu pozycji pracowników w gospodarce, dzięki czemu płace rosną co najmniej w tempie odpowiadającym przyrostom wydajności. Wkład w rozwój dyscypliny: Koncepcja wzrostu opartego na płacach rzadko dyskutowana jest w literaturze głównego nurtu, zwłaszcza polskojęzycznej.
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