Trends in compensation for production workers: 1948–1995

Nilsson, Eric A.

doi:10.1016/s0486-6134(00)80005-4

Cited by 5 publications

(2 citation statements)

References 20 publications

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“…Also, it is critical to differentiate-as much as is possible-between the factors that have a more national orientation and those of a more global nature. For instance, when the capitalist class is too strong-arguably the situation at present in most nations (see Bettio and Rosenberg 1999;Nilsson 1999)-although costs are reduced to the individual capitals through low wages and bad conditions for labor, this may result in the failure of world income to generate global expansion via underconsumption (see Weisskopf et al 1985). The capitalist class can also be too weak, as happened during the late 1960s and the early 1970s, leading to low rates of investment and growth.…”

Section: Global Circuit Of Social Capital and Long Wavesmentioning

confidence: 99%

Growth and Development in the Global Political Economy

O’Hara¹

2004

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Recent institutional changes have seen the increasing dominance of globalization and neoliberalism in the world economy. As markets have been deregulated, privatization and unproductive government spending have been promoted. Yet the greater volatility of capitals, the emergence of many financial crises, a decline in trust, and environmental problems have cast doubt on the effectiveness of neoliberal globalization.This book studies the impact of neoliberal globalization on growth and development in the world economy. It scrutinizes whether new social structures of accumulation or modes of regulation have emerged to promote long-term socioeconomic performance in the global economy during the early years of the twenty-first century. Special reference is given to the specific performance of neoliberal governance; transnational corporations; global institutions of money, trade, and production; international relations of war and terrorism; financial institutions; and the family-community environment.It is a comprehensive analysis of the degree to which institutional development has managed to promote socioeconomic performance in the global economy. It also presents a thorough policy program of action for long wave upswing in the world economy. It will be especially useful for those scholars and students concerned with issues of governance, global political economy, institutions, and macroeconomics.Phillip Anthony O'Hara is Professor of Global Political Economy and Governance and Director of the Global Political Economy Research Unit, at Curtin University, Perth, Australia. He won the European Association for Evolutionary Political Economy "2002 Gunnar Myrdal Prize" for Marx, Veblen and Contemporary Institutional Political Economy (Elgar, 2000); is the editor of Global Political Economy and the Wealth of Nations (Routledge, 2004) Reviews of Growth and Development in the Global Political Economy"I am delighted to endorse Phil O'Hara's new volume. Many years ago I examined his Honours dissertation at Murdoch University on Marx's theories of crisis. It was an outstanding piece of scholarship and I recognised then that a star had been born. His many contributions since show how right I was! Growth and Development in the Global Political Economy is the jewel in his crown. It contains a superb intertwining of historical, political, economic and institutional analysis of modern global capitalism, its successes and failures. It is also a critique of the claims of neoliberal analysis, and the provision of an alternative illuminating analysis; combined with detailed suggestions for the creation of institutions that will go some way towards ensuring that potential sustainable development will be achieved in a manner that helps all the world's citizens and preserves the physical environment for future generations. O'Hara has written a notable book which ought to be read by all serious economists, social scientists, concerned citizens, politicians and policy makers." Professor G.C.Harcourt, Cambridge University, UK. "In Growth...

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Section: Global Circuit Of Social Capital and Long Wavesmentioning

confidence: 99%

Growth and Development in the Global Political Economy

O’Hara¹

2004

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“…For instance, when the capitalist class is too strong -arguably the situation at present in most nations (see Nilsson, 1999;Bettio et al ., 1999) -although costs are reduced to the individual capitals through low wages and bad conditions for labour, this may result in the failure of world income to generate global expansion via underconsumption (see Weisskopf et al , 1985). Also, it is critical to differentiate -as much as is possible -between the factors that have a more national orientation and those of a more global nature.…”

Section: The Global Circuit Of Social Capital and Long Wavesmentioning

confidence: 99%

Recent changes to the IMF, WTO and SPD: emerging global mode of regulation or social structure of accumulation for long wave upswing?

O’Hara

2003

Review of International Political Economy

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This paper examines the degree to which a new global mode of regulation (MOR) or social structure of accumulation (SSA) has emerged which may help to promote long wave upswing in the world economy. A series of institutional proxies are employed in this paper. Attention is given to the system-functions of global productivity and demand , through the performance of the prevailing system of production-distribution (SPD); global financial stability , proxied by the operations of the IMF; and global conflict resolution over trade issues, proxied through the workings of the WTO. The main findings are threefold. First, the SPD is only partially developed so as to promote productivity and demand. Second, some significant financial stability functions have been instigated through the IMF. And third, the WTO is undergoing major conflict due to the opposing policy proposals and criticisms by non-government organizations. This supports the conclusion that only limited success has been made in the emergence of a global MOR or SSA, not yet enough to promote (sustained) long wave upswing. The emergence of an effective global MOR or SSA to propel long wave upswing in the global economy is thus in the early-to-medium phase of development. Periodic uncertainty and deep recession (of an uneven character, interspersed with short-cycle upswings), are thus expected in the dominant economies during the early years of the twenty-first century until suitable institutional innovations emerge.

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Did Nixon's wage and price controls set in motion the post-1970s decline in real wages?

Nilsson

2001

Review of Radical Political Economics

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Trends in compensation for production workers: 1948–1995

Cited by 5 publications

References 20 publications

Growth and Development in the Global Political Economy

Growth and Development in the Global Political Economy

Recent changes to the IMF, WTO and SPD: emerging global mode of regulation or social structure of accumulation for long wave upswing?

Did Nixon's wage and price controls set in motion the post-1970s decline in real wages?

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