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The politics of the British model of capitalism’s flatlining productivity and anaemic growth : lessons for the growth models perspective
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Clift, Ben and McDaniel, Sean (2022) The politics of the British model of capitalism’s flatlining productivity and anaemic growth : lessons for the growth models perspective. The British Journal of Politics and International Relations, 24 (4). pp. 631-648. doi:10.1177/13691481211044638
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Official URL: http://dx.doi.org/10.1177/13691481211044638
Abstract
This article assesses the usefulness of the growth models perspective for understanding contemporary British capitalism in the context of its ongoing ‘productivity puzzle’ and stagnating economic growth. The analysis of British capitalism supports our argument that growth models perspective analyses currently have limited capacity to understand the developmental trajectory of growth models, the instabilities and dysfunctionalities of these models, and how growth comes to be distributed differently across models. Through analysis of capital investment patterns and labour market characteristics, it reveals the importance of the ‘politics of productivity’, embedded in state institutions, which shapes the nature and distribution of economic growth. The article outlines a new framework for growth models analysis that ‘brings the supply-side back in’ for a more holistic approach to the political economy of capitalist growth (and non-growth). It argues this is critical for understanding patterns of political economic development in the British model of capitalism and beyond.
| Item Type: | Journal Article | ||||||||
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| Subjects: | H Social Sciences > HB Economic Theory H Social Sciences > HD Industries. Land use. Labor |
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| Divisions: | Faculty of Social Sciences > Politics and International Studies | ||||||||
| Library of Congress Subject Headings (LCSH): | Capitalism -- Great Britain, Economics -- Political aspects -- Great Britain, Economic development -- Mathematical models, Labor market -- Great Britain | ||||||||
| Journal or Publication Title: | The British Journal of Politics and International Relations | ||||||||
| Publisher: | Sage Publications Ltd | ||||||||
| ISSN: | 1467-856X | ||||||||
| Official Date: | November 2022 | ||||||||
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| Volume: | 24 | ||||||||
| Number: | 4 | ||||||||
| Page Range: | pp. 631-648 | ||||||||
| DOI: | 10.1177/13691481211044638 | ||||||||
| Status: | Peer Reviewed | ||||||||
| Publication Status: | Published | ||||||||
| Access rights to Published version: | Open Access | ||||||||
| RIOXX Funder/Project Grant: |
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