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Resisting neo-liberalism, reclaiming democracy? 21st-century organised labour beyond Polanyi and Streeck

Author

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  • Christopher Lloyd

    (University of New England, Australia; University of Tampere, Finland)

  • Tony Ramsay

    (University of New England, Australia)

Abstract

Despite its greatly weakened condition, could organised labour again be counter-hegemonic to and ultimately transformative of capitalism? Or is the current crisis, a crisis of collapse of manufacturing and wages and under-consumption due to the loss of redistributive power by key socio-political agents, possibly the final crisis of unionism, as argued by Wolfgang Streeck? Some on the political left, such as Streeck, argue that a new phase has been reached where redistributive and oppositional power of organised labour has been not just defeated but destroyed, with enormous consequences for the future of workers and capitalism itself. This article rejects such an overly pessimistic interpretation and asks what the possibility is of the labour movement’s again playing its historic role of transforming capitalism. It explores the potential role of organised labour in re-embedding the economy within democratic society, as Karl Polanyi argued, and building a socio-economic structure that is both stable and enhancing of social and environmental health. This problem is approached through a critique of the theories of Polanyi and Streeck and an examination of the unfortunate embrace of labourism and accommodation to neo-liberalism in the Australian labour movement.

Suggested Citation

  • Christopher Lloyd & Tony Ramsay, 2017. "Resisting neo-liberalism, reclaiming democracy? 21st-century organised labour beyond Polanyi and Streeck," The Economic and Labour Relations Review, , vol. 28(1), pages 129-145, March.
    • Handle: RePEc:sae:ecolab:v:28:y:2017:i:1:p:129-145
    DOI: 10.1177/1035304617693800
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    References listed on IDEAS

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    1. Alexandra Rush & David Jacobs, 2015. "Why is Wage Growth So Low?," RBA Bulletin (Print copy discontinued), Reserve Bank of Australia, pages 09-18, June.
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    5. Benjamin Selwyn & Satoshi Miyamura, 2014. "Class Struggle or Embedded Markets? Marx, Polanyi and the Meanings and Possibilities of Social Transformation," New Political Economy, Taylor & Francis Journals, vol. 19(5), pages 639-661, September.
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    Cited by:

    1. Theresa Hager & Ines Heck & Johanna Rath, 2021. "Competition in Transitional Processes: Polanyi and Schumpeter," ICAE Working Papers 128, Johannes Kepler University, Institute for Comprehensive Analysis of the Economy.

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    More about this item

    Keywords

    Counter-hegemony; labourism; neo-liberalism; organised labour; Polanyi; social democracy; Streeck;
    All these keywords.

    JEL classification:

    • L5 - Industrial Organization - - Regulation and Industrial Policy

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