Felix FitzRoy
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View article: Employee ownership and workplace democracy: Antidotes to labour market monopsony?
Employee ownership and workplace democracy: Antidotes to labour market monopsony? Open
Purpose We show that employee ownership is more efficient than control by external capital owners/employers. This complements the empirical evidence for benefits of employee ownership surveyed by Mygind and Poulsen (2021), Kruse (2022) and…
View article: A modest basic income can benefit a poor majority
A modest basic income can benefit a poor majority Open
View article: Less work and higher tax can raise wellbeing
Less work and higher tax can raise wellbeing Open
Worktime has been falling slowly though real wages have risen dramatically. We show that in a general equilibrium model with CES utility and production functions, worktime falls with real wages if and only if the elasticity of substitution…
View article: Higher tax and less work: reverse “Keep up with the Joneses” and rising inequality
Higher tax and less work: reverse “Keep up with the Joneses” and rising inequality Open
View article: Some Welfare Economics of Working Time
Some Welfare Economics of Working Time Open
View article: Employee participation, job quality, and inequality
Employee participation, job quality, and inequality Open
Purpose The purpose is to review the effects of employee participation (EP) in decision-making, ownership and profit on job quality, worker well-being and productivity, and derive policy recommendations from the findings. Design/methodolog…
View article: Income Status and Life Satisfaction
Income Status and Life Satisfaction Open
View article: The Inefficiency of Employment and the Case for Workplace Democracy
The Inefficiency of Employment and the Case for Workplace Democracy Open
View article: The Inefficiency of Employment and the Case for Workplace Democracy
The Inefficiency of Employment and the Case for Workplace Democracy Open
While most working people are in employment, there is little realisation that this relationship is inefficient and inequitable due to mis-aligned incentives – employers, as residual claimants, have an incentive to elicit greater than socia…
View article: Economic democracy: we must restructure the economy, not return it to its pre-COVID-19 state
Economic democracy: we must restructure the economy, not return it to its pre-COVID-19 state Open
Felix FitzRoy and David Spencer highlight some fundamental problems of UK economic policy, as exposed and exacerbated by the lockdown. They write that, alongside the temporary emergency measures adopted, there is an urgent need for wider r…
View article: Reforming Tax and Welfare: Social Justice and Recovery after the Pandemic
Reforming Tax and Welfare: Social Justice and Recovery after the Pandemic Open
Capital income subsidies, and reliance on indirect consumption taxes have created an increasingly regressive overall tax system in the UK, US and elsewhere, with proportionately much greater impact on the poor than on the rich, and welfare…
View article: Towards Economic Democracy and Social Justice: Profit Sharing, Co-Determination, and Employee Ownership
Towards Economic Democracy and Social Justice: Profit Sharing, Co-Determination, and Employee Ownership Open
View article: Towards Economic Democracy and Social Justice: Profit Sharing, Co-Determination, and Employee Ownership
Towards Economic Democracy and Social Justice: Profit Sharing, Co-Determination, and Employee Ownership Open
Modern economies deprive workers of natural democratic rights and any share of the surplus they produce, with most of the benefits of growth appropriated by capital owners. Worker wellbeing and job satisfaction are ignored unless they cont…
View article: Some Simple Economics of Energy Transition
Some Simple Economics of Energy Transition Open
After explaining the current climate emergency, this survey article summarises financial cost estimates for transition to zero carbon by 2050, which even in the medium term, neglecting catastrophic climate collapse, are much less than the …
View article: Higher Tax and Less Work: An Optimal Response to Relative Income Concern
Higher Tax and Less Work: An Optimal Response to Relative Income Concern Open
There is much evidence that relative income concern reduces subjective wellbeing and raises labour supply – 'keeping up with the Joneses' (KUJ), while increasing use of social media and growing inequality encourage comparison. Models with …
View article: Higher Tax and Less Work: An Optimal Response to Relative Income Concern
Higher Tax and Less Work: An Optimal Response to Relative Income Concern Open
View article: Education, income and happiness: panel evidence for the UK
Education, income and happiness: panel evidence for the UK Open
View article: Basic income and a public job offer: complementary policies to reduce poverty and unemployment
Basic income and a public job offer: complementary policies to reduce poverty and unemployment Open
Unconditional basic income, or a public-sector job guarantee, are usually discussed as alternative policies, though the first does not provide the benefits of an earned income and a good job to the ‘precariat’ and under-employed, while the…
View article: Higher Tax for Top Earners
Higher Tax for Top Earners Open
The literature can justify both increasing and decreasing marginal taxes (IMT & DMT) on top incomes under different welfare objectives and income distributions. Even when DMT are theoretically optimal, they are often politically infeasible…
View article: Education, Income and Happiness: Panel Evidence for the UK
Education, Income and Happiness: Panel Evidence for the UK Open