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Robert Gordon’s panoramic Rise and Fall of American Growth foregrounds exogenous explanations for the fall-off in us economic dynamism since the seventies. Challenging his account, Michel Aglietta explores the role financial rents and shareholder agendas have played in sapping growth—and prospects for a new era of eco-tech innovations.
The European Vortex
Global economic turmoil has exposed the structural flaws in the single currency. Amid deepening divergences between industrial north and debt-laden south, Michel Aglietta assesses the Eurozone’s chances of recovery, and the impact of its continued travails on the world economy.
Into a New Growth Regime
Should the story of contemporary capitalism be told as essentially an American tale? Counterposing a more Braudelian understanding of the global economy to Brenner’s approach, Michel Aglietta sees a new mode of regulation, and distribution of growth, emerging out of the Asian crisis of the nineties.
Capitalism at the Turn of the Century: Regulation Theory and the Challenge of Social Change
My book, A Theory of Capitalist Regulation, was written more than twenty years ago.footnote1 The new edition perhaps testifies to the longevity of the ideas it sought to communicate. These two decades, however, have not been kind to anyone trying to make sense of the erratic and sometimes disconcerting development . . . read more
World Capitalism in the Eighties
The main currents of thought on world economic problems can be distinguished from one another, amongst other things, by the precise importance they attach to the national dimension. For neo-classicists, as well as for supporters of the ‘globalist’ ideology propagated by the multinationals and transmitted by the communications media, there . . . read more
Phases of US Capitalist Expansion
The characteristic mode of existence of developed capitalism is large-scale industry with its mass production.footnote* Yet capitalist relations of production do not just arise from thin air. They derive historically from the formation of the wage-earning class by the gradual dissolution or destruction of previous modes of production. This movement, . . . read more