Review Article
Inflation, wages and equality: cross-disciplinary conversations
Abstract
Rising inflation and a wave of strikes during 2022 have aroused echoes of the 1970s. In this article, experts from the fields of economics, sociology and social policy consider what has changed, what remains the same, and what the lessons might be – with a notable degree of agreement. Raising wages, particularly for the lower-paid groups in the public sector, is likely to reduce poverty and has a very low risk of generating further price inflation. Giving in on pay will be costly, and may have to be funded by taxes in the short term. In the longer run the only way out of our difficulties will be more effective growth generated through improved productivity.
Keywords
Inflationwagespovertytrade unionsstrikesproductivityCopyright statement
© The author(s) 2023. This is an open access article licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 4.0 International LicenseCite this article
Edwards with Baden-Fuller, Pissarides, Rubery, Crouch, Taylor-Gooby (2023), ‘Inflation, wages and equality: cross-disciplinary conversations’, Journal of the British Academy, 11: 025 https://doi.org/10.5871/jba/011.025No Data Found
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There are multiple, sometimes conflicting narratives of ageing. This article surveys those influential in British culture since c. 1900. There is a particular focus upon gender which is often overlooked in common narratives, especially the fact that women have long outlived men, on average, and are still the majority of people defined as ‘old’. This large age group, aged from their 60s to past 100, is subject to much stereotyping and generalisation, for example that they are all dependent ‘burdens’ upon younger people, and that they are incapable of learning new skills. This article challenges these generalisations by stressing the great diversity of the age group including between rich and poor, fit and frail, and highlighting their contributions to society and the economy through paid work, unpaid volunteering, care for aged and younger relatives including grandchildren and financial support for younger people.