New Political Economy 

About: New Political Economy is an academic journal published by Taylor & Francis. The journal publishes majorly in the area(s): New political economy & Politics. It has an ISSN identifier of 1356-3467. Over the lifetime, 1004 publications have been published receiving 33865 citations.

German Capitalism: Does It Exist? Can It Survive?

Abstract: Drawing on extensive comparison with the United States, Japan and Britain, the paper describes the “German model” of advanced capitalism as an institutionalized high-wage economy combining high competitiveness in world markets with strong social cohesion and, in particular, low levels of inequality along a variety of dimensions. This combination is explained by a unique set of socio-economic institutions, in particular socially instituted and circumscribed markets, negotiated firms commanding long-term attachment of both labor and capital, a facilitating state relying mainly on indirect means of intervention, widespread associational self-governance by organized groups in civil society, and institutionalized cultural patterns that promote long-term commitments and continuity. These institutions are shown to call forth and support a particular pattern of production, sometimes referred to as diversified quality production, that has in the 1970s and 1980s made possible both high wages and a low dispersion of wages and incomes. In its second part, the paper proceeds to analyze in detail the performance problems of an institutionalized high-wage economy of the German kind, and specifies a set of conditions that must be met for such an economy to remain simultaneously competitive and socially cohesive. The present crisis of the German “social market economy” is discussed in terms of a coincidence of three factors: a possible secular exhaustion of the model as such, the shock of unification, and the constraints imposed by growing globalization of the capitalist economy on national economic governance. Auf der Grundlage eines Vergleichs mit den Vereinigten Staaten, Japan und Grosbritannien wird das „deutsche Modell“ des entwickelten Kapitalismus als institutionalisierte Hochlohnwirtschaft beschrieben, die hohe Wettbewerbsfahigkeit in internationalen Markten mit starker sozialer Kohasion und relativ geringer wirtschaftlicher Ungleichheit verbindet. Diese Kombination wird als Resultat einer Reihe typischer sozio-okonomischer Institutionen erklart, insbesondere sozial institutionalisierter und umschriebener Markte; durch Aushandlung regierter Unternehmen, deren Kapital und Arbeit langfristig an sie gebunden sind; einen unterstutzenden Staat, der sich vornehmlich indirekter Interventionsformen bedient; weitverbreiteter verbandlicher Selbstregulierung organisierter gesellschaftlicher Gruppen; und institutionalisierter kultureller Muster, die langfristige Bindungen und Kontinuitat fordern. Diese Institutionen begrunden und unterstutzen eine bestimmte Art wirtschaftlicher Produktion, die als diversifizierte Qualitatsproduktion bezeichnet worden ist und in den siebziger und achtziger Jahren zugleich hohe Lohne und eine geringe Dispersion von Lohnen und Einkommen ermoglicht hat. In seinem zweiten Teil untersucht der Aufsatz die derzeitigen Bestandsprobleme einer institutionalisierten Hochlohnokonomie der deutschen Art und nennt eine Reihe von Bedingungen, die erfullt sein mussen, damit eine solche Okonomie zugleich wettbewerbsfahig und sozial kohasionsfahig bleiben kann. Die gegenwartige Krise der deutschen „sozialen Marktwirtschaft“ wird als Resultat des Zusammentreffens dreier Faktoren dargestellt: einer moglichen sakularen Erschopfung des Modells als solchem, des Schocks der Wiedervereinigung, und der Ruckwirkungen der zunehmenden Globalisierung der kapitalistischen Okonomie auf nationale Formen wirtschaftlicher Steuerung.

Is Green Growth Possible

Abstract: The notion of green growth has emerged as a dominant policy response to climate change and ecological breakdown. Green growth theory asserts that continued economic expansion is compatible with our...

The international labour organisation

Abstract: The International Labour Organization (ILO) has reached a venerable old age, celebrating its ninetieth birthday in 2009. It was established in the wake of the First World War by the Treaty of Versa...

The digital revolution in financial inclusion: international development in the fintech era

Abstract: This paper examines the growing importance of digital-based financial inclusion as a form of organising development interventions through networks of state institutions, international development organisations, philanthropic investment and fintech companies. The fintech–philanthropy–development complex generates digital ecosystems that map, expand and monetise digital footprints. Its ‘know thy (irrational) customer’ vision combines behavioural economics with predictive algorithms to accelerate access to, and monitor engagement with, finance. The digital revolution adds new layers to the material cultures of financial(ised) inclusion, offering the state new ways of expanding the inclusion of the ‘legible’, and global finance new forms of ‘profiling’ poor households into generators of financial assets.

Models of Capitalism: Growth and Stagnation in the Modern Era

Abstract: Preface. 1. Capitalist Models and Economic Growth. Part I: Capitalist Models: The Arguments: . 2. Liberal Capitalism: Retreat and Revival?. 3. 'Trust-Based' Capitalism: Revival and Retreat. Part II: Capitalist Models: The Evidence: . 4. The Power of Organized Labour. 5. Education, Training and Culture. 6. The Organization of Capital in the Pursuit of Growth. 7. The State as an Element in the Growth Equation. Part III: Conclusion: . 8. Capitalist Models and the Politics of the Left. Appendix: Theories of Growth. References. Index.