The Golden Age of Capitalism: Reinterpreting the Postwar Experience

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Stephen A. Marglin, Juliet B. Schor
Clarendon Press, 1990 - Business & Economics - 324 pages
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The period after World War Two, with its sustained growth and high employment rate, has been referred to as the "golden age" of capitalism. Blending historical analysis with economic theory, this work presents essays that scrutinize the institutions that fostered this growth and high employment as well as the forces which later undermined the effectiveness of these institutions in the 1960s and 70s. The authors discuss the evolution of the historical background, the macroeconomic structure, the international order, the systems of production, as well as the "rules of coordination." They use this to show that the golden age, like other historical epochs, must be understood as a series of interacting institutions--all operating in different areas, but sometimes interlocking with one another and crucial to an intelligent analysis of a critical period in the American experience. Contributors include A. Glyn, A. Hughes, A. Lipietz, A. Singh, G. Epstein, J. Schor, S. Marglin, A. Bhaduri, S. Bowles, R. Boyer, R. Rowthorn, and M. Aoki.
 

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Contents

The Rise and Fall of the Golden
39
Macropolicy in the Rise and Fall of the Golden
126
Profit Squeeze and Keynesian Theory
153
Income Distribution
187
The Diversity of Unemployment Experience
218
A New Paradigm of Work Organization
267
References
294
Index
316
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About the author (1990)

Stephen A. Marglin and Juliet B. Schor are both at Harvard University.

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