Welfare systems and social services during the systemic crisis of cognitive capitalism

Stefano Lucarelli and Carlo Vercellone ()
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Carlo Vercellone: Université Paris 1

European Journal of Economic and Social Systems, 2011, vol. 24, issue 1-2, 77-97

Abstract: The purpose of this article is to show that, contrary to neoliberal belief, social welfare services and spending should be recognised as the driving force behind a development dynamics based on knowledge-intensive production. In the first part, we shall briefly present the relationship between public debt and private debt. In the second part, we shall present a series of stylised facts which highlight the key role played by welfare state institutions in the genesis and development of a knowledge-based economy. In the third part, these general considerations will be corroborated through an international comparison between the Nordic welfare model and the Anglo-Saxon welfare model. This comparison reveals a strong positive correlation between the level of development of welfare state institutions and that of a knowledge-based economy.

Keywords: Welfare state; public debt; cognitive capitalism; work organization; European Union (search for similar items in EconPapers)
JEL-codes: J24 L86 M12 M54 P12 (search for similar items in EconPapers)
Date: 2011
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Citations: View citations in EconPapers (5)

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Working Paper: Welfare systems and social services during the systemic crisis of cognitive capitalism (2011)
Working Paper: Welfare systems and social services during the systemic crisis of cognitive capitalism (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:ris:ejessy:0028

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