The Knowledge-Led Accumulation Regime: A Theory of Contemporary Capitalism

Hyungkee Kim

Institute for Research on Labor and Employment, Working Paper Series from Institute of Industrial Relations, UC Berkeley

Abstract: The knowledge-led accumulation regime (KLAR) is a new accumulation regime that emerged as a way out of the crisis of Fordism. Even though it has a polarization tendency, KLAR has elements of an alternative development model beyond both Fordism and neoliberalism, since it could upgrade workers’ knowledge and enhance autonomy of workers. I attempted to propose a theory of KLAR that is an economic base of contemporary capitalism. Based on the Regulation theory with a relational approach and a micro-macro nexus analysis, I investigated the structures and dynamics of KLAR on the micro-and macro-level. On the micro-level, the analysis focused on the knowledge firm in which knowledge capital and knowledge labor interacts in employment relations. On the macro-level, I tried to show how the macroeconomic circuit of KLAR is completed. Moreover, the directions of institution building for a sustainable KLAR were suggested. Lastly, I clarified how institutional diversity results in alternative KLARs.

Date: 2007-05-11
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