Abstract
Original language | English |
---|---|
Pages (from-to) | 209-225 |
Number of pages | 17 |
Journal | World Review of Political Economy |
Volume | 1 |
Issue number | 2 |
Publication status | Published - 2010 |
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Keywords
- social structure of accumulation
- institutions
- economic crisis
Cite this
"A RECONCEPTUALIZATION OF SOCIAL STRUCTURE OF ACCUMULATION THEORY". / Wolfson, Martin H. ; Kotz, David.
In: World Review of Political Economy, Vol. 1, No. 2, 2010, p. 209-225.Research output: Contribution to journal › Article
}
TY - JOUR
T1 - "A RECONCEPTUALIZATION OF SOCIAL STRUCTURE OF ACCUMULATION THEORY"
AU - Wolfson, Martin H.
AU - Kotz, David
PY - 2010
Y1 - 2010
N2 - "This article puts forward a reconceptualization of the theory of a social structure of accumulation (SSA). The thirty years of neoliberalism present a problem for SSA theory. According to current SSA theory, an SSA is an institutional configuration that for a long period of time promotes rapid capital accumulation and economic growth. Although neoliberalism is clearly a new and long-lasting institutional structure that replaced the postwar SSA, growth in the neoliberal economy has been relatively sluggish. This article offers a revised concept of an SSA, which makes it possible to explain neoliberalism as an SSA. It argues that every SSA promotes profit-making but does not necessarily bring accumulation that is rapid by some historical standard. It introduces the concept of liberal and regulated SSAs and examines the features of both types of SSA. It considers the implications of this revised SSA theory for understanding the current capitalist economic crisis."
AB - "This article puts forward a reconceptualization of the theory of a social structure of accumulation (SSA). The thirty years of neoliberalism present a problem for SSA theory. According to current SSA theory, an SSA is an institutional configuration that for a long period of time promotes rapid capital accumulation and economic growth. Although neoliberalism is clearly a new and long-lasting institutional structure that replaced the postwar SSA, growth in the neoliberal economy has been relatively sluggish. This article offers a revised concept of an SSA, which makes it possible to explain neoliberalism as an SSA. It argues that every SSA promotes profit-making but does not necessarily bring accumulation that is rapid by some historical standard. It introduces the concept of liberal and regulated SSAs and examines the features of both types of SSA. It considers the implications of this revised SSA theory for understanding the current capitalist economic crisis."
KW - social structure of accumulation
KW - institutions
KW - economic crisis
M3 - Article
VL - 1
SP - 209
EP - 225
JO - World Review of Political Economy
JF - World Review of Political Economy
SN - 2042-891X
IS - 2
ER -