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This article examines the influence of the author of The Great Transformation (1944) on Arthur Okun. Polanyi's explicit influence on Okun is reflected in his discussion on the desirability of limiting the role of the market in a democratic society and guaranteeing a minimum level of welfare for the entire population inEquality and Efficiency: the Big Tradeoff. It is also argued that Okun's distinction inPrices and Quantities: A Macroeconomic Analysis, between auction markets and customer markets, is strongly reminiscent of Polanyi's similar classification inTrade and Market, andThe Livelihood of Man, because of the importance Okun assigns to fairness as an explanatory factor of price rigidity, which refers to the embedded character of exchanges as proposed by Polanyi. The importance of fairness in the explanation of price (and wage) rigidity is later taken up by other Keynesian and behavioral economists such as George Akerlof, and Daniel Kahneman, Jack Knetsch and Richard Thaler, largely under the influence of Okun. ; Palabras clave: Historia del pensamiento económico, keynesianismo, fundamentos microeconómicos de la macroeconomía, economía conductual

En este artículo revisitamos la evidencia empírica de la hipótesis de la convergencia absoluta en el crecimiento entre países en 1950-2019, poniendo el foco en el producto por trabajador. También ponemos a prueba la hipótesis de Rodrik (2013) de convergencia absoluta en el producto por trabajador en la industria manufacturera utilizando una base nueva construida por los autores, que por primera vez lo mide en dólares de igual de poder compra, para así poder investigar su relación con la convergencia en el producto por trabajador en la economía en su conjunto en 1970-2018. Encontramos evidencia robusta de convergencia absoluta en el producto por trabajador de la economía en su conjunto a partir del año 2000 y rechazamos sistemáticamente la hipótesis de Rodrik de convergencia absoluta en la industria manufacturera sin convergencia en la economía en su conjunto.

Labour market incomes have been a major contributor to the important fall in inequality in Latin America during the 2000s. Indeed, it was the main contributor in countries where inequality fell more dramatically. A proper understanding of the workings of the labour market is necessary to comprehend why inequality fell, what lies ahead of us and what we can do to achieve more equitable societies in Latin America. Social progress was real in the last decade but we should not overlook the structural deficits that still remain in Latin American labour markets. Inequality fell more dramatically in countries where formality rose faster and real minimum wages increased more significantly. Labour market institutions have a played positive role in reducing inequity in the last decade.