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  The Viability of Advanced Welfare States in the International Economy: Vulnerabilities and Options

Scharpf, F. W.(1999). The Viability of Advanced Welfare States in the International Economy: Vulnerabilities and Options. Köln: Max-Planck-Institut für Gesellschaftsforschung.

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Item Permalink: http://hdl.handle.net/11858/00-001M-0000-0012-5795-8 Version Permalink: http://hdl.handle.net/11858/00-001M-0000-002C-0781-0
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New source: Scharpf, Fritz W. (2000). The Viability of Advanced Welfare States in the International Economy: Vulnerability and Options. In: Journal of European Public Policy, 7(2), 190-228

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 Creators:
Scharpf, Fritz W.1, Author              
Affiliations:
1Problemlösungsfähigkeit der Mehrebenenpolitik in Europa, MPI for the Study of Societies, Max Planck Society, ou_1214552              

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 Abstract: The paper represents a preliminary and partial analysis of the information collected in a comparative 12-country study of the adjustment of national employment and social-welfare policies to the increasing internationalization of product and capital markets. After the postwar decades, when national governments were still able to control their economic boundaries, the first international challenge came in the form of the oil-price crisis of 1973/74, which confronted industrial economies with the double threat of cost-push inflation and demand-gap unemployment. It could be met if countries were able to achieve a form of "Keynesian concertation" in which expansionary monetary and fiscal policies would defend employment while union wage restraint could be relied on to fight inflation. For this solution, "corporatist" industrial-relations institutions were a necessary but not a sufficient condition. Since the second oil-price crisis of 1979-80 was met by restrictive monetary and expansionary fiscal policies in the United States, the steep increase of real interest rates in the international capital markets forced other central banks to raise interest rates accordingly. As a consequence, employment-creating investments could only be maintained if the share of profits in the national product was significantly increased. Under the pressure of rapidly rising unemployment, unions in most countries were forced to accept this massive redistribution from labor to capital. In the 1990s, finally, the international integration of product and capital markets has been constraining private sector employment as well as the financial viability of the welfare state. But now institutional differences among different types of revenue systems, welfare states and employment systems - Scandinavian, Anglo-Saxon, and Continental - create important differences in vulnerability that can no longer be met by standardized responses. The paper concludes with an examination of the specific problems faced by, and the solutions available to, the different countries included in the study.

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Language(s): eng - English
 Dates: 1999-091999
 Publication Status: Published in print
 Pages: 35
 Publishing info: Köln : Max-Planck-Institut für Gesellschaftsforschung
 Table of Contents: 1 The Rise of the Capitalist Welfare State
2 Challenges and Responses of the 1970s and early 1980s
3 Challenges of the 1990s
3.1 Private Sector Employment
3.2 Welfare State Revenue
3.3 Conclusion
4 Characteristic Challenges and Options
4.1 Scandinavian Welfare States
4.2 Anglo-Saxon Welfare States
4.3 Continental Welfare States
5 Conclusions
Appendix: Countries
References
 Rev. Method: Internal
 Identifiers: eDoc: 429942
 Degree: -

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Title: MPIfG Working Paper
Source Genre: Series
 Creator(s):
MPI for the Study of Societies, Max Planck Society, Editor              
Affiliations:
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Pages: - Volume / Issue: 99/9 Sequence Number: - Start / End Page: - Identifier: ISSN: 1864-4341
ISSN: 1864-4333