A RECONCEPTUALIZATION OF SOCIAL STRUCTURE OF ACCUMULATION THEORY
<p class="first" id="d358906e66">This article puts forward a reconceptualization of the theory of a social structure of accumulation (SSA). The thirty years of neoliberalism presenta problem for SSA theory. According to current SSA theory, an SSA is...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Pluto Journals
2010-06-01
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| Series: | World Review of Political Economy |
| Online Access: | https://www.scienceopen.com/hosted-document?doi=10.2307/41942915 |
| Summary: | <p class="first" id="d358906e66">This article puts forward a reconceptualization of the theory of a social structure
of accumulation (SSA). The thirty years of neoliberalism presenta problem for SSA
theory. According to current SSA theory, an SSA is an institutional configuration
that for a long period of time promotes rapid capital accumulation and economic growth.
Although neoliberalism is clearly a new and long-lasting institutional structure that
replaced the postwar SSA, growth in the neoliberal economy has been relatively sluggish.
This article offers a revised concept of an SSA, which makes it possible to explain
neoliberalism as an SSA. It argues that every SSA promotes profit-making but does
not necessarily bring accumulation that is rapid by some historical standard. It introduces
the concept of liberal and regulated SSAs and examines the features of both types
of SSA. It considers the implications of this revised SSA theory for understanding
the current capitalist economic crisis.
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| ISSN: | 2042-891X 2042-8928 |