Diminishing Returns
The New Politics of Growth and Stagnation
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Product details:
- Publisher OUP USA
- Date of Publication 7 July 2022
- ISBN 9780197607855
- Binding Hardback
- No. of pages554 pages
- Size 159x241x33 mm
- Weight 898 g
- Language English
- Illustrations 57 line drawings; 27 tables 518
Categories
Short description:
In Diminishing Returns, Lucio Baccaro, Mark Blyth, and Jonas Pontusson bring together a list of top contributors in the field to examine capitalist economies in times where economic growth has slowed down considerably. As economic growth is a powerful social stabilizer and contributes to make the characteristic features of capitalism, the key question motivating the volume is: What happens when growth-the main mechanism of capitalist legitimation-is harder to come by and less broadly shared? The volume analyzes the politics of growth and stagnation at the country, regional, and global level through a new theoretical framework: the Growth Model Perspective.
MoreLong description:
A set of state of the art empirical analyses at the country, regional, and global level that work from a new theoretical framework that analyzes the politics of growth and stagnation.
As highlighted by the recent debate on 'secular stagnation,' economic growth has slowed down considerably, and this has given rise to a host of new problems, from financial instability to the collapse of mainstream parties. What happens when growth?the main mechanism of capitalist legitimation?is harder to come by and less broadly shared? And how should we think about capitalist diversity in the context of global stagnation?
In Diminishing Returns, Lucio Baccaro, Mark Blyth, and Jonas Pontusson address these questions by bringing together a number of comparative and international political economists with expertise across many different countries and regions. Going beyond the methodological nationalism common in most comparative research, each author departs from a common theoretical framework, the Growth Model Perspective, and contributes to develop it further. The outcome is a new theoretical framework to help social scientists, policymakers, and opinion makers, understand the politics of growth and stagnation, which offers state of the art empirical analyses at the country, regional, and global level.
This immensely stimulating book enriches our understanding of comparative and international political economy with new perspectives drawn from post-Keynesian economics about how and why growth models vary across countries and time. Bringing macroeconomics back into the center of the study of comparative capitalism, the authors skillfully weave economics and politics together to yield a distinctive view of the challenges facing the contemporary world. This is an illuminating volume that all political economists will want to read.
Table of Contents:
List of Contributors
Introduction: Rethinking Comparative Capitalism
Lucio Baccaro, Mark Blyth and Jonas Pontusson
Part 1: Theoretical Perspectives
Chapter 1: Growth Models and Post Keynesian Macroeconomics
Engelbert Stockhammer and Özlem Onaran
Chapter 2: From Fordism to Franchise: Intellectual property and growth models in the Knowledge Economy
Herman Mark Schwartz
Chapter 3: Four Galtons and a Minsky: Growth Models from an IPE Perspective
Herman Mark Schwartz and Mark Blyth
Part 2: Growth Models at Scale
Chapter 4: The Political Economy of the Eurozone's Post-Crisis Growth Model
Alison Johnston and Matthias Matthijs
Chapter 5: China's Growth Models in Comparative and International Perspective
Yeling Tan and James Conran
Chapter 6: The Politics of Growth Model Switching: Why Latin America Tries, and Fails, to Abandon Commodity-Driven Growth
Jazmin Sierra
Chapter 7: The FDI-led Growth Models of the East-Central and South-Eastern European Periphery
Cornel Ban and Dragos Adascalitei
Part 3: Country Case Studies
Chapter 8: Credit and Consumption-Led Growth Models in the United States and United Kingdom
Alexander Reisenbichler and Andreas Wiedemann
Chapter 9: The Political-Economic Foundations of Export-led Growth: An Analysis of the German Case
Lucio Baccaro and Martin Höpner
Chapter 10: Rebalancing Balanced Growth: The Evolution of the Swedish Growth Model since the mid- 1990s
Lennart Erixon and Jonas Pontusson
Chapter 11: Growth and Stagnation in Southern Europe: The Italian and Spanish Growth Models Compared
Lucio Baccaro and Fabio Bulfone
Chapter 12: Global Capital and National Growth Models: The Cases of Ireland and Latvia
Dorothee Bohle and Aidan Regan
Part 4: Policies and Politics
Chapter 13: Financialization and Growth Regimes
Cornel Ban and Oddny Helgadóttir
Chapter 14: Political Parties and Growth Models
Jonathan Hopkin and Dustin Voss
Chapter 15: Growth Models Under Austerity
Evelyne Hübscher and Thomas Sattler
Chapter 16: Welfare States and Growth Models: Accumulation and Legitimation
Julia Lynch and Sara Watson
Chapter 17: Green Growth Models
Jonas Nahm
Index
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