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Growth and Welfare in Advanced Capitalist Economies: How Have Growth Regimes Evolved?

Online ISBN:
9780191898389
Print ISBN:
9780198866176
Publisher:
Oxford University Press
Book

Growth and Welfare in Advanced Capitalist Economies: How Have Growth Regimes Evolved?

Anke Hassel (ed.),
Anke Hassel
(ed.)

Professor of Public Policy

Professor of Public Policy, Hertie School Berlin
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Bruno Palier (ed.)
Bruno Palier
(ed.)

CNRS Research Director

CNRS Research Director, Sciences Po, Centre d'études européennes et de politique comparée
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Published online:
21 January 2021
Published in print:
27 November 2020
Online ISBN:
9780191898389
Print ISBN:
9780198866176
Publisher:
Oxford University Press

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 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

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