Employment and Poverty under Neoliberal Capitalism

Neoliberal capitalism, characterized by freer movement of goods and services and capital, including finance, across country borders, keeps down real wages everywhere even as labor productivity increases. This raises income inequalities, creating an ex ante tendency toward overproduction, which under...

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Vydané v:	Social research Ročník 91; číslo 3; s. 777 - 793
Hlavný autor:	Patnaik, Prabhat
Médium:	Journal Article
Jazyk:	English
Vydavateľské údaje:	New York Johns Hopkins University Press 01.09.2024
Predmet:	Agribusiness Agriculture Borders Capital Capitalism Cost of living Developing countries Employment Finance Global economy Government purchasing Income inequality Industrialized nations International finance Labor productivity Laboratories LDCs Monopolies Nation states Neoliberalism Poverty Prices Privatization Productivity Public debt Public finance R&D Real wages Research & development Seeds Stagnation Tariffs Taxation Trade restrictions Unemployment Wages & salaries Welfare state United Kingdom > UK India
ISSN:	0037-783X, 1944-768X, 1944-768X
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Popis
Shrnutí:	Neoliberal capitalism, characterized by freer movement of goods and services and capital, including finance, across country borders, keeps down real wages everywhere even as labor productivity increases. This raises income inequalities, creating an ex ante tendency toward overproduction, which underlies the current stagnation and growing unemployment in the world economy. This crisis cannot be overcome within neoliberalism, since globalized finance opposes larger state expenditure financed through heavier taxation of the rich or a larger fiscal deficit. This underlies the current pervasive tendency toward neofascism. Overcoming neofascism requires transcending neoliberalism by mobilizing working people around a rights-based welfare state.
Bibliografia:	ObjectType-Article-1 SourceType-Scholarly Journals-1 ObjectType-Feature-2 content type line 14
ISSN:	0037-783X 1944-768X 1944-768X
DOI:	10.1353/sor.2024.a938577