Skip to main content Accessibility help
×
Home
Hostname: page-component-59b7f5684b-9m8n8 Total loading time: 0.71 Render date: 2022-10-04T10:07:08.539Z Has data issue: true Feature Flags: { "shouldUseShareProductTool": true, "shouldUseHypothesis": true, "isUnsiloEnabled": true, "useRatesEcommerce": false, "displayNetworkTab": true, "displayNetworkMapGraph": false, "useSa": true } hasContentIssue true

Introduction: Social Structure of Accumulation Theory for the 21st Century

Published online by Cambridge University Press:  05 June 2012

Terrence McDonough
Affiliation:
Department of Economics, National University of Ireland, Galway
Michael Reich
Affiliation:
Department of Economics, University of California Berkeley
David M. Kotz
Affiliation:
Department of Economics, University of Massachusetts Amherst
Terrence McDonough
Affiliation:
National University of Ireland, Galway
Michael Reich
Affiliation:
University of California, Berkeley
David M. Kotz
Affiliation:
University of Massachusetts, Amherst
Get access

Summary

Since the 1994 publication of our volume, Social Structures of Accumulation: The Political Economy of Growth and Crisis (Kotz et al. 1994), social structure of accumulation (SSA) theory has continued to inspire a substantial outpouring of articles and books in a variety of disciplines. The purpose of this new volume is to provide a definitive account of the state of SSA theory and its applications today, 30 years after SSA theory first emerged, and well over a decade since our previous volume was published. SSA theory seeks to explain, among other things, why long periods of relative economic stability alternate with long periods of economic crisis. For this reason, it is well suited to help understand the factors underlying the financial and economic crisis of global capitalism that broke out in 2007–08.

SSA theory was developed in the 1970s and early 1980s by David Gordon, Richard Edwards, and Michael Reich (1982) as a way of relating apparent long cycles of growth and stagnation in capitalist history to periods of change in the institutional structure of capitalism. Contrary to the sunny picture of conventional equilibrium economics, capitalist history appeared to be punctuated by periodic crises of unusual depth and length. And contrary to some conventional Marxian expectations, capitalism had not fallen into a permanent state of depression or stagnation. Subsequent to the crisis periods, capitalist economies experienced prolonged periods of relatively vigorous and stable growth and accumulation.

Type
Chapter
Information
Contemporary Capitalism and its Crises
Social Structure of Accumulation Theory for the 21st Century
, pp. 1 - 20
Publisher: Cambridge University Press
Print publication year: 2010

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

Aglietta, Michel 1979. A Theory of Capitalist Regulation. London: NLB.Google Scholar
Aglietta, Michel 1998. “Capitalism at the Turn of the Century: Regulation Theory and the Challenge of Social Change,” New Left Review 232: 41–90.Google Scholar
Bowles, Samuel and Boyer, Robert 1988. “Labor Discipline and Aggregate Demand: A Macroeconomic Model,” American Economic Review 78, 2: 395–400.Google Scholar
Bowles, Samuel and Boyer, Robert 1990a. “A Wage-led Employment Regime: Income Distribution, Labor Discipline, and Aggregate Demand.” Pp. 187–217 in Marglin, Stephen A. and Schor, Juliet B. eds. The Golden Age of Capitalism. Oxford: Clarendon Press.Google Scholar
Bowles, Samuel and Boyer, Robert 1990b. “Labor Market Flexibility and Decentralization as Barriers to High Employment? Notes on Employer Collusion, Centralized Wage Bargaining and Aggregate Employment.” Pp. 325–352 in Brunetta, Renato and Dell, Carlo' Aringa, eds. Labour Relations and Economic Performance. London: Macmillan.Google Scholar
Bowles, Samuel, Edwards, Richard and Roosevelt, Frank 2005. Understanding Capitalism: Competition, Command and Change. New York: Oxford University Press.Google Scholar
Bowles, Samuel, Gordon, David M. and Weisskopf, Thomas E. 1990. After the Waste Land: A Democratic Economics for the Year 2000. Armonk, NY: M.E. Sharpe.Google Scholar
Boyer, Robert 1990. The Regulation School: A Critical Introduction. New York: Columbia University Press.Google Scholar
Boyer, Robert and Saillard, Yves 2002. Regulation Theory: The State of the Art. Routledge, London.Google Scholar
Brown, Clair, Eichengreen, Barry and Reich, Michael eds. 2009. The Great Unraveling: New Labor Market Institutions and the Public Policy Response. New York: Cambridge University Press.
Brown, Clair, Nakata, Yoshifumi, Reich, Michael and Ulman, Lloyd 1997. Work and Employment in the U.S. and Japan. New York: Oxford University Press.Google Scholar
Crouch, Colin and Streeck, Wolfgang eds. 1997. Political Economy of Modern Capitalism: Mapping Convergence and Diversity. New York: Sage Publications.
Favereau, Olivier 2002. “Conventions and regulation.” Pp. 312–319 in Boyer, Robert and Yves Saillard eds (1995) Regulation Theory: the State of the Art. London: Routledge.Google Scholar
Galbraith, James 2008. The Predatory State: How Conservatives Abandoned the Free Market and Why Liberals Should Too. New York: Free Press.Google Scholar
Glyn, Andrew ed. 2001. Social Democracy in Neoliberal Times: The Left and Economic Policy since 1980. New York: Oxford University Press.CrossRef
Gordon, David M., Edwards, Richard C. and Reich, Michael. 1982. Segmented Work, Divided Workers: the Historical Transformations of Labor in the United States. New York: Cambridge University Press.Google Scholar
Hancke, Bob, Rhodes, Martin and Thatcher, Mark eds. 2007. Beyond Varieties of Capitalism: Conflict, Contradictions and Complementarities in the European Economy. New York: Oxford University Press.CrossRef
Hall, Peter A. and Soskice, David eds. 2001. Varieties of Capitalism: The Institutional Foundations of Comparative Advantage. New York: Oxford University Press.CrossRef
Hall, Peter A. and Thelen, Kathleen 2008. “Institutional Change in Varieties of Capitalism.” Socio-Economic Review 7, 1: 7–34.CrossRefGoogle Scholar
Hollingsworth, J. Rogers and Boyer, Robert 1997. Contemporary Capitalism: the Embededness of Institutions. New York: Cambridge University Press.CrossRefGoogle Scholar
Jacoby, Sanford 2009. “Finance and Labor: Perspectives on Risk, Inequality and Democracy.” Pp. 94–150 in Brown, Clair, Eichengreen, Barry and Reich, Michael eds. The Great Unraveling. New York: Cambridge University Press.Google Scholar
Kotz, David M. 1994. “The Regulation Theory and the Social Structure of Accumulation Approach.” Pp. 85–97 in Kotz, David M., McDonough, Terrence, and Reich, Michael, Eds. Social Structures of Accumulation: The Political Economy of Growth and Crisis. New York: Cambridge University Press.CrossRefGoogle Scholar
Kotz, David M., McDonough, Terrence, and Reich, Michael eds. 1994. Social Structures of Accumulation: The Political Economy of Growth and Crisis. New York: Cambridge University Press.CrossRef
Reich, Michael 1997. “Social Structure of Accumulation Theory: Retrospect and Prospect.” Review of Radical Political Economics 29, 3: 1–10.CrossRefGoogle Scholar
Reich, Michael ed. 2008a. Segmented Labor Markets and Labor Mobility. Vol. I Labor Market Segmentation 1970 to 2000. Edward Elgar.
Reich, Michael 2008b. Segmented Labor Markets and Labor Mobility. Vol II Flexibility, Monopsony and the New Labor Market Segmentation. Edward Elgar.CrossRef
Streeck, Wolfgang and Thelen, Kathleen eds. 2005. Beyond Continuity: Institutional Change in Advanced Political Economies. New York: Oxford University Press.
3
Cited by

Save book to Kindle

To save this book to your Kindle, first ensure coreplatform@cambridge.org is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about saving to your Kindle.

Note you can select to save to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.

Find out more about the Kindle Personal Document Service.

Available formats
×

Save book to Dropbox

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Dropbox.

Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

Available formats
×