The political economy of finance-led capitalism: connecting financialization, private equity and employment outcomes

Clark, I. ORCID: 0000-0001-7698-2715, 2018. The political economy of finance-led capitalism: connecting financialization, private equity and employment outcomes. In: M. Wright, K. Amess, N. Bacon and D. Siegel, eds., The Routledge companion to management buyouts. Routledge companions . London: Routledge, pp. 441-455. ISBN 9781138713840

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Abstract

Observers of comparative political economy have outlined changes in the nature of capitalism that have since the late 1970s. It is suggested that full-employment capitalism was replaced by a finance-led capitalism centered on neo-liberalism (Harvey, 2007; Crouch, 2011). The financial crisis of 2008 reinforced the trajectory of finance-led capitalism and neo-liberalism. Central to this change is a process whereby the principles of deregulation and privatization were further embedded in the institutional framework of countries such as the UK. Recent contributions to this literature link together economic restructuring, associated neo-liberalism, and the emergence of finance-led capitalism. It is suggested that these changes represent a social revolution from above, designed to restore the power of capital over labor (Cox & Nilsen, 2014: 136; Srnicek & Williams, 2015: 52–67).

Item Type: Chapter in book
Creators: Clark, I.
Publisher: Routledge
Place of Publication: London
Date: 2018
Identifiers:
NumberType
10.4324/9781315230597-23DOI
Divisions: Schools > Nottingham Business School
Depositing User: Linda Sullivan
Date Added: 20 Dec 2018 08:56
Last Modified: 03 Mar 2020 03:00
URI: http://irep.ntu.ac.uk/id/eprint/35397

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