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Economic dynamics of financial capitalism: Labour market reforms, welfare state reduction, and the impact of technological changes

By: Salvati, Luigi and Tridico, Pasquale.
Material type: materialTypeLabelBookPublisher: The Indian Journal of Labour Economies Description: 68(2), Apr-Jun, 2025: p.348-366.Subject(s): Financial capitalism, Labour market reforms, Welfare state, Technological progress
Contents:
In: The Indian Journal of Labour EconomiesSummary: This article delves into the economic landscape of advanced countries in our current era, delineating the defining features and policies that shape it. Beginning with an examination of financial capitalism, we explore its close relationship with labour market reforms aimed at diminishing job security, weakening unions, and reducing workers' bargaining power. Moreover, we highlight the concurrent reduction of the welfare state's role, which, unless mitigated by addressing demand crises, poses challenges in financing workers' consumption. The intertwining dynamics of technological advancements are also scrutinised, with a focus on the associated risks and opportunities. Finally, we draw policy implications from these analyses, offering insights into navigating the complex economic terrain of the present era.- Reproduced https://link.springer.com/article/10.1007/s41027-024-00524-2
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Articles Articles Indian Institute of Public Administration
68(2), Apr-Jun, 2025: p.348-366 Available AR137349


This article delves into the economic landscape of advanced countries in our current era, delineating the defining features and policies that shape it. Beginning with an examination of financial capitalism, we explore its close relationship with labour market reforms aimed at diminishing job security, weakening unions, and reducing workers' bargaining power. Moreover, we highlight the concurrent reduction of the welfare state's role, which, unless mitigated by addressing demand crises, poses challenges in financing workers' consumption. The intertwining dynamics of technological advancements are also scrutinised, with a focus on the associated risks and opportunities. Finally, we draw policy implications from these analyses, offering insights into navigating the complex economic terrain of the present era.- Reproduced

https://link.springer.com/article/10.1007/s41027-024-00524-2

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