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Varieties of capitalism, neoliberalism and the economic crisis of 2008–?
Author(s) -
Heyes Jason,
Lewis Paul,
Clark Ian
Publication year - 2012
Publication title -
industrial relations journal
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.525
H-Index - 3
eISSN - 1468-2338
pISSN - 0019-8692
DOI - 10.1111/j.1468-2338.2012.00669.x
Subject(s) - capitalism , position (finance) , neoliberalism (international relations) , economics , economic system , political economy , political science , market economy , politics , finance , law
This article examines the responses of national governments to the economic crisis that commenced in 2008. We argue that the current search for new bases for accumulation is leading to reforms designed to weaken the position of labour. Moreover, the tendency towards a weakening of labour's position was already evident across different ‘varieties of capitalism’ before the crisis erupted. We discuss the implications for comparative institutional analysis and stress the need for a renewed focus on the underlying dynamics of capitalist economies.