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Review of Radical Political Economics
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What's this?

Corporate Governance and the "Job Loss" Recovery

L. Josh Bivens

Economic Policy Institute, Washington, DC, lbivens{at}epinet.org

Christian E. Weller

Center for American Progress, 1333 H Street NW, 10th fl., Washington, DC 20005, cweller{at}americanprogress.org

The recent recovery continued a trend that started in the mid-1970s of a growing divergence between capital and labor incomes. This trend appears to be largely due to a shift in the balance of corporate governance. A growing concentration of financial assets among institutional investors was juxtaposed by a declining unionization rate. Consequently, institutional investors had the incentives and increasingly the ability to allocate a growing share of corporate resources towards capital, particularly in the form of share repurchases and dividend payouts instead.

Key Words: profit share • income distribution • corporate governance • institutional investors • unionization

Review of Radical Political Economics, Vol. 37, No. 3, 293-301 (2005)
DOI: 10.1177/0486613405278156
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