A POLITICAL ECONOMY OF THE SOCIAL WAGE: THE NET SOCIAL WAGE IN AUSTRALIA, 1964–65 TO 1991–92

This article attempts to place the concept and measurement of the social wage into a context of political economy. Several variations on the conventional method of measuring the social wage are proposed and applied to Commonwealth outlays for the period 1964–65 to 1991–92. It is argued that the resulting concept is better suited to an analysis of the impact of government social expenditures on capital accumulation. While the alternative ‘Net Social Wage’ concept must be a qualifiable measure of the redistributive impact of such expenditures, it is argued also that it is a more meaningful one than the conventional measure presented in most studies on this subject.