IDEAS home Printed from https://ideas.repec.org/a/sae/woemps/v28y2014i2p323-334.html
   My bibliography  Save this article

New corporate elites and the erosion of the Keynesian social compact

Author

Listed:
  • Anne Daguerre

    (Middlesex University, UK)

Abstract

The role of corporate elites – notably financial elites – has been at the forefront of political debates in Western capitalist societies since the start of the Great Recession in 2008. The major structural unbalances that had accumulated in Anglo-American economies over the last quarter of the 20th century played a key role in the build up to the financial crisis. Taking advantage of the mobility of capital, business elites promoted a model of shareholder capitalism actively backed up by the state. A process of elite competition took place: financial intermediaries acting on behalf of institutional investors marginalized the alliance between traditional managerial elites and workers that had been at the heart of the Keynesian compromise. This contribution outlines the consequences of the unravelling of the 20th century social pact for workers and their families. It concludes by outlining ‘what is to be done’ to forge a 21st century social pact.

Suggested Citation

  • Anne Daguerre, 2014. "New corporate elites and the erosion of the Keynesian social compact," Work, Employment & Society, British Sociological Association, vol. 28(2), pages 323-334, April.
    • Handle: RePEc:sae:woemps:v:28:y:2014:i:2:p:323-334
    as

    Download full text from publisher

    File URL: http://wes.sagepub.com/content/28/2/323.abstract
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Costas Lapavitsas & Ivan Mendieta-Muñoz, 2017. "Financialisation at a Watershed in the USA JEL Classification: B50, E10, E44, G20," Working Paper Series, Department of Economics, University of Utah 2017_10, University of Utah, Department of Economics.
    2. Paster, Thomas, 2015. "Bringing power back in: A review of the literature on the role of business in welfare state politics," MPIfG Discussion Paper 15/3, Max Planck Institute for the Study of Societies.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:sae:woemps:v:28:y:2014:i:2:p:323-334. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: SAGE Publications (email available below). General contact details of provider: http://www.britsoc.co.uk/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.