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


  • Carlo Vercellone

    () (CES - Centre d'économie de la Sorbonne - CNRS - Centre National de la Recherche Scientifique - UP1 - Université Panthéon-Sorbonne)

  • Lucarelli Stefano



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.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Carlo Vercellone & Lucarelli Stefano, 2011. "Welfare systems and social services during the systemic crisis of cognitive capitalism," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00788553, HAL.
  • Handle: RePEc:hal:cesptp:halshs-00788553
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    Cited by:

    1. Stefano Lucarelli & Roberto Romano, 2016. "The Italian Crisis within the European Crisis. The Relevance of the Technological Foreign Constraint," World Economic Review, World Economics Association, vol. 2016(6), pages 1-12, February.
    2. Carlo Vercellone, 2015. "Connaissance et rapport capital/travail dans la crise du capitalisme," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-01197415, HAL.

    More about this item


    European Union; Welfare state; public debt; cognitive capitalism; work organization; European Union.; dette publique; capitalisme cognitif; organisation du travail; Union européenne.;

    JEL classification:

    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • L86 - Industrial Organization - - Industry Studies: Services - - - Information and Internet Services; Computer Software
    • M12 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Personnel Management; Executives; Executive Compensation
    • M54 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Personnel Economics - - - Labor Management
    • P12 - Economic Systems - - Capitalist Systems - - - Capitalist Enterprises


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