UNCTAD’s Annual Report

The United Nations Conference On Trade and Development’s annual report for 2016 is out and it’s worth reading as always. It’s generally written by non-orthodox authors.

Ambrose Evans-Pritchard of The Telegraph already has a good summary of it in his article UN Fears Third Leg Of The Global Financial Crisis – With Prospect Of Epic Debt Defaults.

There’s reference to Myrdal and Kaldor’s work on circular and cumulative causation: specifically the importance of manufacturing. See page 58 onward (page 92 of the pdf file).

Another thing which caught my attention is the share of wages in the national income.

global-wage-share

Leave a Reply

Comments are welcome, but not published—see comments policy. Required fields are marked *