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Capitalism UnleashedFinance, Globalization, and Welfare$
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Andrew Glyn

Print publication date: 2007

Print ISBN-13: 9780199226795

Published to Oxford Scholarship Online: September 2007

DOI: 10.1093/acprof:oso/9780199226795.001.0001

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Challenges to Capital

Challenges to Capital

Chapter:
(p.1) 1 Challenges to Capital
Source:
Capitalism Unleashed
Author(s):

ANDREW GLYN

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199226795.003.0001

This chapter discusses challenges faced by the capital system. It begins with a description of the unprecedented boom of the economies of the most developed capitalist countries (North America, Western Europe, Japan, and Australasia) in the 1950s and 1960s, dubbed as the ‘Golden Age’, characterized by low unemployment, low inflation, and rapidly growing living standards. This was followed by the apparent decline of the capitalist system during the second half of the 1960s and through the 1970s, characterized by the emergence of organized labour, international disorganization, and productivity slowdown.

Keywords:   capitalist system, organized labour, international disorganization, productivity, developed economies, Golden Age, productivity slowdown

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