Date of release: Tuesday, April 15, 2014

Professor Ozlem OnaranBritain urgently needs to see a major growth in wages if it is to enjoy a lasting and sustainable economic recovery, according to a University of Greenwich economist.

Ozlem Onaran, Professor of Workforce and Economic Development Policy, is among the contributors to a new book, Wage-Led Growth: An Equitable Strategy for Economic Recovery, published by Palgrave Macmillan and being launched later this month.

She says: “Along with my fellow authors, I argue that distributional shifts in favour of capital, and the rise in income inequality, have reduced economic growth and increased economic instability. A rebalancing in favour of wages is an essential element of equitable and sustainable growth. We provide evidence on why Britain needs a pay rise and how we can achieve it.”

Professor Onaran is also speaking at the book launch, alongside Professor Engelbert Stockhammer, of Kingston University, one of the book’s editors, and Andrew Harrop, General Secretary of the Fabian Society. The event, organised by Economists Against Austerity, takes place on Tuesday 29 April at London’s Portcullis House, from 6.30pm.

A member of the university’s Business School, Professor Onaran is the author of more than 60 articles in books and journals including the Cambridge Journal of Economics, World Development and the European Journal of Industrial Relations. A project she led for the United Nations/International Labour Office also explored the potential for a wage-led global recovery as a way out of recession.

For more on Wage-Led Growth: An Equitable Strategy for Economic Recovery, edited by Marc Lavoie and Engelbert Stockhammer: http://us.macmillan.com/wageledgrowth/MarcLavoie#toc

To find out more about studying business at the University of Greenwich: www.gre.ac.uk/business, email courseinfo@greenwich.ac.ukor call 020 8331 9000.

Story by Public Relations

Picture: Professor Ozlem Onaran.