The social wage and the Accord in Australia. (4th August 2014)

• Record Type: Journal Article
• Authors: Hogan, Warren Pat; King, Susan Elizabeth
• Is Part Of: Global business & economics review. Volume 1:Number 1(1999)
• Page Start: 93
• Page End: 107
• Publication Date: 2014-08-04
• Subjects: Australia -- social wage -- wage fixing -- income redistribution -- income measures -- wages policy -- incomes policy -- economic management -- economic policy; Economics -- Periodicals; International economic relations -- Periodicals; 330.5
• Languages: English
• ISSNs: 1097-4954

Abstract

This paper provides an appraisal of the Social Wage aspects of the wages and incomes policies pursued in Australia between 1983 and 1996, when wage fixing arrangements were known as the Accord, being descriptive of consensus between Government, Labor and Business. The Accord is shown to have been effective in redistributing income between households, but not to the household sector. These conclusions are contradicted by National Accounts showing strong real growth over the Accord period. Official income measures are analysed to validate the appraisal. The appraisal is timely given current Maastricht discussions on social implications of wages and incomes policies.