A desirable movement towards a high skill and high wages economy may imply a broader employee participation in shaping investment/innovation strategies. This could extend collective bargaining over automating, timing of innovations in addition to issues involving employment, wages and other working conditions. This paper makes us of nonlinear differential equations and of a qualitative state space analysis to describe dynamic feedback system, based upon a Goodwin-like model of economic cyclical growth and income distribution. The patterns of behavior are traced to the system's feedback structure (in particular, to delays and polarity of it's feedback link and loops). It is shown that typically growth of labor productivity promotes a steady state labor bill share and employment ratio, although irrationality or myopic rationality in bargaining, disregarding regularities of the whole system, may be detrimental.

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Date created

• 1994

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• Document

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• Creative Commons BY-NC-ND Attribution-NonCommercial-NoDerivs 4.0 International

  
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System Dynamic Society Records

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• This collection is part of the University Archives