2023/06/01 by Pablo Jose Soriano Mena
#Labour share of income #Latin America and the Caribbean #economics #gross domestic product #inequality #international development #labour share of income #macroeconomics #macroeconomics.
paper · doi:10.5526/esj163
The global labour share of income has been observed to decline over the past few decades. This essay analyses the causes of this trend by studying the relationship between labour share and other economic indicators. Comparisons are made between various regions of the world, to assess if this trend is similar worldwide or if there are any observable differences between regional actors. The effects of the COVID-19 pandemic are considered in the study, due to its global impact. Finally, a link between the measure of the global labour share and global inequality is addressed, while assessing its implications for the future of the economy.