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The Diversity of Unemployment Experience since 1973

The Diversity of Unemployment Experience since 1973

Chapter:
(p.218) 6 The Diversity of Unemployment Experience since 1973
Source:
The Golden Age of Capitalism
Author(s):
Bob RowthornAndrew Glyn
Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780198287414.003.0006

This chapter evaluates the experience of various countries in coping with unemployment after the ‘golden age’ of capitalism began to tarnish in the 1970s. It demonstrates that while the slowdown in growth has had adverse effects everywhere, the capacity of a country to maintain high levels of employment depended crucially on the existence of appropriate social, economic, and political institutions, along with the ability to mobilize effective coalitions to act through these institutions. It also stimulates a separate WIDER research project on the social corporatist model of economic management whose distinctive feature is the negotiation of a centralized wage bargain between employers and workers.

Keywords:   unemployment, golden age, employment, social corporatist model, centralized wage

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