Final published version
Research output: Contribution in Book/Report/Proceedings - With ISBN/ISSN › Chapter
Research output: Contribution in Book/Report/Proceedings - With ISBN/ISSN › Chapter
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TY - CHAP
T1 - Offe’s paradox in the light of neoliberalism and its paradoxes
T2 - Schumpeterian workfare and Ricardian austerity
AU - Jessop, Bob
N1 - Publisher Copyright: © Pauli Kettunen, Saara Pellander and Miika Tervonen 2022.
PY - 2022/1/1
Y1 - 2022/1/1
N2 - The chapter revises the author’s earlier work on the restructuring and strategic reorientation of welfare regimes in advanced capitalist social formations in the post-war period. It does so in five ways. First, it grounds the analysis in the contradictions of the capital relation, some of which can be displaced and deferred within given spatio-temporal horizons but nonetheless provide generic mechanisms that recurrently destabilize capital accumulation and social reproduction and generate crises. Second, it considers two exit routes from Atlantic Fordism in the heartlands of capitalism and suggests two forms of welfare regime compatible with these routes. These are the knowledge-based economy and finance-led accumulation, each of which has a corresponding ideal-typical welfare regime. Third, it suggests that, whereas the form of welfare regime associated with the knowledge-based economy may pursue conjunctural austerity policies and even a contingent politics of intermittent austerity, finance-led accumulation is associated with the emergence of an enduring austerity state. Fourth, it addresses the crisis-tendencies of financialized neoliberalism and its capacities for renewal in response to the North Atlantic and Eurozone financial crises and related crisis forms. Fifth, it considers this analysis in the light of the COVID-19 pandemic and its implications for austerity.
AB - The chapter revises the author’s earlier work on the restructuring and strategic reorientation of welfare regimes in advanced capitalist social formations in the post-war period. It does so in five ways. First, it grounds the analysis in the contradictions of the capital relation, some of which can be displaced and deferred within given spatio-temporal horizons but nonetheless provide generic mechanisms that recurrently destabilize capital accumulation and social reproduction and generate crises. Second, it considers two exit routes from Atlantic Fordism in the heartlands of capitalism and suggests two forms of welfare regime compatible with these routes. These are the knowledge-based economy and finance-led accumulation, each of which has a corresponding ideal-typical welfare regime. Third, it suggests that, whereas the form of welfare regime associated with the knowledge-based economy may pursue conjunctural austerity policies and even a contingent politics of intermittent austerity, finance-led accumulation is associated with the emergence of an enduring austerity state. Fourth, it addresses the crisis-tendencies of financialized neoliberalism and its capacities for renewal in response to the North Atlantic and Eurozone financial crises and related crisis forms. Fifth, it considers this analysis in the light of the COVID-19 pandemic and its implications for austerity.
UR - http://www.scopus.com/inward/record.url?scp=85129792692&partnerID=8YFLogxK
U2 - https://doi.org/10.4337/9781788976589.00014
DO - https://doi.org/10.4337/9781788976589.00014
M3 - Chapter
AN - SCOPUS:85129792692
SN - 9781788976572
T3 - Globalization and Welfare series
SP - 104
EP - 126
BT - Nationalism and Democracy in the Welfare State
A2 - Kettunen, Pauli
A2 - Pellander, Saara
A2 - Tervonen, Miika
PB - Edward Elgar Publishing Ltd.
CY - Northampton, Massachusetts
ER -