How should we think about modern capitalism? with Lucio Baccaro, Mark Blyth, and Jonas Pontusson
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ETUI
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🗓️ 20 February 2023
⏱️ 28 minutes
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Summary
Advanced capitalist societies seem to limp from one existential crisis to the next, becoming ever more fragile and unstable. Yet the dominant theoretical frameworks in political economy view capitalism as fundamentally stable or, at most, subject to incremental change. Baccaro, Blyth and Pontusson emphasise the diversity of capitalist trajectories or, rather, growth models.
Transcript
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| 0:00.0 | Hello and welcome to ETIWI podcast, Voices on the World of Work. |
| 0:08.6 | I'm your host, Bianca Luna Fabrice, and in this episode we will be hearing all about the |
| 0:13.7 | new politics of growth models and stagnation with Lucho Baccaro, Mark Blythe and Jonas |
| 0:19.5 | Ponteson. |
| 0:20.7 | Our three guests have very recently released a volume on this published by Oxford University Press, |
| 0:26.9 | and they have also condensed their thoughts and ideas in a recent article for our journal transfer, |
| 0:33.0 | and you'll be able to find the link to both the article and the book in our show notes. |
| 0:38.1 | I would actually like to ease into the podcast with a bit of an introductory question. |
| 0:42.2 | And I have this question for you, Lutro, if you don't mind. |
| 0:45.2 | So new politics of growth and stagnation. |
| 0:48.5 | What is it and why is it new? |
| 0:51.0 | Yeah, it's a book about capitalism. |
| 0:52.7 | One of the highlights is that it has contributions from several scholars that are based in |
| 0:59.6 | the Europe and the US and who are specialists in either countries or regions or policy |
| 1:05.6 | areas. |
| 1:06.6 | Now the point of departure is the diversity of capitalist trajectory. There is no one best way to |
| 1:13.1 | organize a capitalist economy. There are several, and they are equally valid. And this is a staple |
| 1:19.5 | of the comparative political economy approach. Compared to this tradition, the book does not stop |
| 1:26.8 | at diversity of capitalism, but tries to go beyond |
| 1:30.8 | and to link it systematically to cross-cutting trends that are taking place at the level of |
| 1:36.3 | the international economy. Liberalization, financialization, and the increase in inequality. |
| 1:41.3 | Furthermore, it's a book about growth, and especially about the absence of |
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