When Economic Crises Endure
M.E. Sharpe, 1999 - Business & Economics - 261 pages
This work represents the French Regulation School approach to the study of economics. Regulationists focus on the long-term evolution of capitalist economies with a strong emphasis on cross-country comparisons. Their theory centers on the notion of "accumulation regimes", a concept that analyzes long-wave growth patterns and how those patterns were shaped by five key regulatory mechanisms: 1) forms of competition; 2) the socio-technical system covering all aspects of the capital-labor relation; 3) money; 4) forms of state intervention; and 5) arrangements regulating international economic relations. Methodologically, their approach is very flexible and innovative, ranging from econometric models to interdisciplinary studies.
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List of Tables xi
Preface to the English Translation
From Extensive to Intensive Accumulation 3
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acceleration adjustment advanced capitalist countries American annual growth rate average balance Bretton Woods system capital central bank CEPII changes competitive regulation considerable constraint consumption context contrast costs crisis currency debt decline deficit demand depreciation devaluation dynamic effects elasticity emerged employment Europe exchange rate exports factors firms flexibility fluctuations Fordism foreign trade forms France Germany growth regime household imports income increase industrialized countries inflation interest rates investment Japan labor productivity leading economies limited long-term macroeconomic major manufacturing ment monetary policy neoconservative notably OECD parity percent period played productivity gains protectionism rapid rate of profit ratio real wages recession recovery reduced relative price remained result rise role Second World Second World War sector sharp short-term showed significant situation slowdown social stability structural Sweden Table tion transformation trend underwent unions United Kingdom wage relation wage share West Germany