The problem of income distribution between labor and capital

Elena Basovskaya; Leonid Basovskiy

doi:doi:10.12737/2587-9111-2022-10-6-4-7

UDC 330

The problem of income distribution between labor and capital

Published в Scientific Research and Development. Economics · Volume 10, Issue 6, 2022 · Pages 4–7 · Rubrics: Economic theory

DOI 10.12737/2587-9111-2022-10-6-4-7

Received: 14.11.2022 Accepted: 29.11.2022 Published: 29.11.2022

Authors

Elena Basovskaya ¹ · Leonid Basovskiy ²

1 Leo Tolstoy Tula State Pedagogical University (Department of Economics and Management, Associate Professor)
Tula, Tula, Russian Federation

2 Leo Tolstoy Tula State Pedagogical University (Department of Economics and Management, Head)
Tula, Tula, Russian Federation

ABSTRACT

The work is devoted to an attempt to quantify the trends in the distribution of income between labor and capital in the modern world. The work used UN data on a set of European countries, countries of the post-Soviet space, Israel, Canada, the USA and Turkey. To assess trends in the distribution of income between labor and capital, linear econometric models built for the dependence of the share of the labor force in GDP on the per capita GDP for each year from 2007 to 2019. The results of modeling the de-pendence of the share of the labor force in GDP on the value of per capita GDP made it possible to establish that the level of explaining the share of the labor force in GDP by the value of per capita GDP is small does not exceed 30%. The relationship between the share of the labor force in GDP and the value of per capita GDP is weakening, the im-pact of per capita GDP on the share of wages in GDP in the modern world is declining obliquely and it can expected that in the short term this influence will cease to be signif-icant.

KEYWORDS

labor capital income per capita GDP postindustrial economy econometrics

Information References

Authors:

1. Leo Tolstoy Tula State Pedagogical University (Department of Economics and Management, Associate Professor)

Tula, Tula, Russian Federation

2. Leo Tolstoy Tula State Pedagogical University (Department of Economics and Management, Head)

Tula, Tula, Russian Federation

Type:

Article

Pages:

from 4 to 7

Status:

Published

Subject area:

UDC 330

Language:

Russian

Keywords:

labor, capital, income, per capita GDP, postindustrial economy, econometrics

References

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