Profit-Led Growth, Social Democracy, and the Left: An Accumulation of Discontent

William McColloch

Review of Radical Political Economics, 2017, vol. 49, issue 4, 559-566

Abstract: The present paper seeks to locate the Bhaduri–Marglin (B-M) model as an historical outcome of the Left’s internal disputes over the prospects for social democracy. In better contextualizing the B-M model as a historical response to the perceived political economic failings of the social compromises upon which the growth of postwar advanced capitalist economies had rested, both the model’s popularity and its potential limitations can more easily be understood.

Keywords: wage-led growth; social structures of accumulation (SSA) theory; political economy; history of economic thought; capital accumulation (search for similar items in EconPapers)
JEL-codes: B22 B24 E11 E12 O43 (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:sae:reorpe:v:49:y:2017:i:4:p:559-566

DOI: 10.1177/0486613417703745

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