Social Structures of Accumulation: The Political Economy of Growth and Crisis

The social structure of accumulation (SSA) approach seeks to explain the long-term fortunes of capitalist economies in terms of the effect of political and economic institutions on growth rates. This book offers an ideal introduction to this powerful tool for understanding capitalist growth, analysing the social and economic differences between countries and the reasons for the successes and failures of institutional reform. The contributors cover a wide range of topics, including the theoretical basis of the SSA approach, the postwar financial system, Marxian and Keynesian theories of economic crisis, labour-management relations, race and gender issues, and the history of institutional innovation. Combining newly written essays with classic articles of the SSA school, the book examines the international economy and the economies of Japan, South Africa, and Puerto Rico, as well as the United States.

Table of Contents:
Introduction David M. Kotz, Terrence McDonough and Michael Reich; Part I. The Theory of Social Structures of Accumulation: 1. Long swings and stages of capitalism David M. Gordon, Richard Edwards and Michael Reich; 2. How social structures of accumulation decline and are built Michael Reich; 3. Interpreting the social structure of accumulation approach David M. Kotz; 4. Social structures of accumulation, contingent history, and stages of capitalism Terrence McDonough; 5. The regulation theory and the social structure of accumulation approach David M. Kotz; Part II. History, Institutions, and Macroeconomic Analysis: 6. The construction of social structures of accumulation in US history Terrence McDonough; 7. The financial system and the social structure of accumulation Martin H. Wolfson; 8. Alternative social structure of accumulation approaches to the analysis of capitalist booms and busts Thomas E. Weisskopf; 9. The politics of the American industrial policy debate Jim Schoch; Part III. Class, Race and Gender: 10. Shopfloor relations in the postwar capital-labor accord David Fairris; 11. Towards a broader vision: race, gender and labor market segmentation in the social structure of accumulation framework Randy Aldelda and Chris Tilly; Part IV. The International Dimension: 12. Accumulation and crisis in a small and open economy: the postwar social structure of accumulation in Puerto Rico Edwin Melendez; 13. Apartheid and capitalism: social structure of accumulation or contradiction? Nicoli Nattrass; 14. The social structure of accumulation approach and the regulation approach: a US-Japan comparison Tsuyoshi Tsuru; 15. The global economy: new edifice or crumbling foundations? David M. Gordon; Afterword: new international institutions and renewed world economic expansion David M. Kotz, Terrence McDonough and Michael Reich.