Diminishing Returns: The New Politics of Growth and Stagnation
Lucio Baccaro, Mark Blyth, and Jonas Pontusson (eds.)
MPIfG Book
Abstract
A set of state-of-the-art empirical analyses at the country, regional, and global level that work from a new theoretical framework that analyzes the politics of growth and stagnation. As highlighted by the recent debate on “secular stagnation,” economic growth has slowed down considerably, and this has given rise to a host of new problems, from financial instability to the collapse of mainstream parties. What happens when growth – the main mechanism of capitalist legitimation – is harder to come by and less broadly shared? And how should we think about capitalist diversity in the context of global stagnation?
In Diminishing Returns, Lucio Baccaro, Mark Blyth, and Jonas Pontusson address these questions by bringing together a number of comparative and international political economists with expertise across many different countries and regions. Going beyond the methodological nationalism common in most comparative research, each author departs from a common theoretical framework, the Growth Model Perspective, and contributes to develop it further. The outcome is a new theoretical framework to help social scientists, policymakers, and opinion makers understand the politics of growth and stagnation, which offers state-of-the-art empirical analyses at the country, regional, and global level.
Contents
Part 1 Theoretical Perspectives
Chapter 1: Growth Models and Post Keynesian Macroeconomics | Engelbert Stockhammer and Özlem Onaran
Chapter 2: From Fordism to Franchise: Intellectual property and growth models in the Knowledge Economy | Herman Mark Schwartz
Chapter 3: Four Galtons and a Minsky: Growth Models from an IPE Perspective | Herman Mark Schwartz and Mark Blyth
Part 2 Growth Models at Scale
Chapter 4: The Political Economy of the Eurozone's Post-Crisis Growth Model | Alison Johnston and Matthias Matthijs
Chapter 5: China's Growth Models in Comparative and International Perspective | Yeling Tan and James Conran
Chapter 6: The Politics of Growth Model Switching: Why Latin America Tries, and Fails, to Abandon Commodity-Driven Growth | Jazmin Sierra
Chapter 7: The FDI-led Growth Models of the East-Central and South-Eastern European Periphery | Cornel Ban and Dragos Adascalitei
Part 3 Country Case Studies
Chapter 8: Credit and Consumption-Led Growth Models in the United States and United Kingdom | Alexander Reisenbichler and Andreas Wiedemann
Chapter 9: The Political-Economic Foundations of Export-led Growth: An Analysis of the German Case | Lucio Baccaro and Martin Höpner
Chapter 10: Rebalancing Balanced Growth: The Evolution of the Swedish Growth Model since the mid- 1990s | Lennart Erixon and Jonas Pontusson
Chapter 11: Growth and Stagnation in Southern Europe: The Italian and Spanish Growth Models Compared | Lucio Baccaro and Fabio Bulfone
Chapter 12: Global Capital and National Growth Models: The Cases of Ireland and Latvia | Dorothee Bohle and Aidan Regan
Part 4 Policies and Politics
Chapter 13: Financialization and Growth Regimes | Cornel Ban and Oddny Helgadóttir
Chapter 14: Political Parties and Growth Models | Jonathan Hopkin and Dustin Voss
Chapter 15: Growth Models Under Austerity | Evelyne Hübscher and Thomas Sattler
Chapter 16: Welfare States and Growth Models: Accumulation and Legitimation | Julia Lynch and Sara Watson
Chapter 17: Green Growth Models | Jonas Nahm
