Growth and Welfare in Advanced Capitalist Economies: How Have Growth Regimes Evolved?
Anke Hassel and Bruno Palier
Abstract
This chapter charts the shape and movement of the growth strategies of the developed democracies since 1945 across three periods: an era of modernization, one of liberalization, and an era of knowledge-based growth, with an emphasis on the relationship between developments in the political economy and changes in the character of electoral politics. It argues that economic policy-making always entails assembling coalitions for policy in both the arenas of electoral politics and of producer group politics. Accordingly, economic policy responds, not only to secular economic developments, but also ... More
This chapter charts the shape and movement of the growth strategies of the developed democracies since 1945 across three periods: an era of modernization, one of liberalization, and an era of knowledge-based growth, with an emphasis on the relationship between developments in the political economy and changes in the character of electoral politics. It argues that economic policy-making always entails assembling coalitions for policy in both the arenas of electoral politics and of producer group politics. Accordingly, economic policy responds, not only to secular economic developments, but also to shifting political conditions and notably to changes in the cleavage structures underpinning electoral politics, which are themselves influenced by preceding economic developments. Growth strategies are conditioned by how an evolving “economic gestalt” portrays the problems of the economy and by processes of coalition formation in the electoral arena. The chapter devotes special attention to the growth strategies of the UK, France, Germany, and Sweden
Keywords:
growth strategies,
economic gestalt,
electoral cleavages,
Keynesianism,
liberalization,
knowledge economy
Bibliographic Information
| Print publication date: 2020 |
Print ISBN-13: 9780198866176 |
| Published to Oxford Scholarship Online: January 2021 |
DOI:10.1093/oso/9780198866176.001.0001 |
Authors
Affiliations are at time of print publication.
Anke Hassel, editor
Professor of Public Policy, Hertie School Berlin
Bruno Palier, editor
CNRS Research Director, Sciences Po, Centre d'études européennes et de politique comparée
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