Economic Inequality and the New School of American Economics
This essay analyzes economic inequality in the Gilded Age, roughly from 1865 to 1900. It focuses specifically on a group of economists who identified working-class consumption as an economic stimulus, and accordingly advocated an increase in wages to bring this about. It is structured in three secti...
| Published in: | Religions |
|---|---|
| Main Author: | |
| Format: | Electronic Article |
| Language: | English |
| Check availability: | HBZ Gateway |
| Journals Online & Print: | Drawer...
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| Fernleihe: | Fernleihe für die Fachinformationsdienste |
| Published: |
MDPI
[2017]
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| In: |
Religions
|
| Further subjects: | B
Gilded Age
B Consumption B Economics B Industrialization B Intellectual History B Minimum Wage B economic reform |
| Online Access: |
Presumably Free Access Volltext (Verlag) Volltext (doi) |
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| 520 | |a This essay analyzes economic inequality in the Gilded Age, roughly from 1865 to 1900. It focuses specifically on a group of economists who identified working-class consumption as an economic stimulus, and accordingly advocated an increase in wages to bring this about. It is structured in three sections: first, it demonstrates how industrialization in the late-nineteenth century sparked social tensions, convincing observers that there was a crisis of inequality; second, it explains how these tensions produced a New School of economics who sought to alleviate these issues by changing economic doctrine; it concludes by noting how this New School exerted an influence on public policy in the Progressive Era. In their conception, economics should be redesigned to promote a more equal distribution of wealth. Therefore, higher wages would stimulate working-class consumption, which would stabilize the economy and overall alleviate class conflict. This story offers a unique way to view the development of consumerism and social reform in American history. | ||
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| 650 | 4 | |a economic reform | |
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| 650 | 4 | |a Industrialization | |
| 650 | 4 | |a Intellectual History | |
| 650 | 4 | |a Minimum Wage | |
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