The Golden Age of Capitalism: Reinterpreting the Postwar Experience
Stephen A. Marglin, Juliet B. Schor
Clarendon Press, 1990 - Business & Economics - 324 pages
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.
What people are saying - Write a review
We haven't found any reviews in the usual places.
Other editions - View all
accumulation aggregate demand average bargaining Bretton Woods system capacity utilization capital stock capitalist cent p.a. central bank changes Chapter corporatism cost of job-loss decline deficit dollar economic effect employment regime equilibrium Europe exchange rate exhilarationist exports finance firm France function Germany golden age growth rate important income increase industrial employment inflation investment demand Italy Japan Japanese Keynesian labour force labour market labour productivity macroeconomic structure margins ment monetary policy Norway OECD OECD countries oil shock OPEC output output/capital ratio period ployment political post-war prime manufacturer problem productivity growth profit rate profit share profit squeeze rate of growth rate of profit real wages relative result rise role rules of co-ordination saving schedule sector slow-down stagnationist strategy surplus Sweden Switzerland system of production Table theory tion trade unem unemployment rate United United Kingdom wage share wage-led employment workers