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- W2803407105 abstract "Capitalism has undergone a number of important transformations and challenges. Within the West, capitalism responded to these problems with Keynesian solutions, creating an expanded social contract and growing middle class. But alongside its triumphalism with the fall of the Soviet Union, capitalism was reaching its own limits of expansion within the Keynesian model. Without an external threat, capitalism was free to focus on the wage structures and social benefits that restricted corporate profitability. The middle class had reached their limits and the working class had overreached theirs. Neoliberalism, led by financialisation, transformed capitalism into an updated model of its pre-Keynesian existence. Capitalism was rapidly transforming from a nation-centric system into a global structure of accumulation and power. Austerity in the developed North and structural adjustment programmes in the developing South resulted from a break with industrial-era national capitalism." @default.
- W2803407105 created "2018-06-01" @default.
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- W2803407105 date "2016-08-01" @default.
- W2803407105 modified "2023-10-14" @default.
- W2803407105 title "The Transformation of Capitalism and the Limits of Democracy" @default.
- W2803407105 doi "https://doi.org/10.3366/edinburgh/9781474415347.003.0004" @default.
- W2803407105 hasPublicationYear "2016" @default.
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