By Geoffrey M. Hodgson
Fresh occasions in japanese Europe have underlined the constraints of Marxian monetary and political conception. during this selection of essays Hodgson topics Marxian financial idea to serious exam and indicates which components hold their smooth relevance. After analysing the contribution of Sraffa, and indicating its serious strength and theoretical obstacles, Hodgson issues to a brand new synthesis embracing Marx, Keynes and Veblen.
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Extra info for After Marx and Sraffa: Essays in Political Economy
Moderate politicians attempted to buy “social peace” with social legislation. 25 As labor unions entrenched in the public sector gained special benefits between the wars, they made it more likely that, in the postwar era of nationalized industries, these benefits would spread as the state expanded into various sectors of the economy. French employers set up family allowance programs for a variety of reasons: out of a paternalistic Social Catholic sense of justice or social order; out of a fear of depopulation; in the hope that such programs might divide labor unions, relieve wage pressures, shore up the labor supply and/or forestall national, compulsory programs.
The key purpose of French (and Italian, and German) social policy is to ensure status continuity and to protect the “droits acquis” of those born before 1950. The French welfare state is a middle-and upper-middle-class welfare state, not a working-class welfare state. It is a pensioners’ state, not a pro-youth state. It is a protection system for those already employed, not a full-employment state. It is concerned primarily with protecting jobs, not in allowing or helping the market to create (and destroy) them in the first place.
Were motivated by ambitions to aid the poorest directly at the expense of the better-off. ”38 In a sense, French reformers like Laroque tried to graft the high ideals of the universalistic welfare state onto a particularistic, insular workforce, still colored by its corporatist past, and this British import was soundly rejected by the chief organs of the labor movement and professional associations alike. Group after occupational group resisted the call to universalistic, redistributive solidarity – then, at a later date, joined on terms as favorable as possible to themselves.
After Marx and Sraffa: Essays in Political Economy by Geoffrey M. Hodgson