By Torben Iversen

According to the most important concept that social safeguard in a latest financial system, either inside and out the nation, may be understood as safeguard of particular investments in human capital, Torben Iversen deals a scientific clarification of renowned personal tastes for redistributive spending, the commercial function of political events and electoral platforms, and exertions industry stratification (including gender inequality). opposite to the preferred concept that festival within the worldwide financial system undermines foreign variations within the point of social security, Iversen argues that those ameliorations are literally made attainable through a excessive overseas department of labor.

positive aspects

• bargains a complete political economic system method of the research of the welfare kingdom and inequality
• Auitable for educating either complex undergraduate and graduate courses
• Mixes methodologies (mathematical modeling, econometrics, and case-oriented research) and increases new questions on social coverage and globalization

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Additional resources for Capitalism, Democracy, and Welfare (Cambridge Studies in Comparative Politics)

Sample text

Only then can it be said that Marx and Engels’s vision of large-scale manufacturing animated by centralized power, housed in large factories, and manned by an anonymous proletariat became a widespread reality. The challenge for the twentieth century was, thus, to solve the problems of efficiency and legitimacy posed by the spread of this new system, and this required the creation of institutions and structures through which the participation and cooperation of the rising industrial working class could be secured.

More importantly, the effects of deindustrialization have been mediated by the skill regime, as well as by the institutional capacity of the political system for credible commitment. Building on recent work on unemployment by Blanchard and Wolfers (2000), I demonstrate this institutional conditioning of common shocks with a variety of empirical tests in Chapter 5. The growing electoral pressure for government spending has also provided politicians and political parties with an opportunity to shape the structure of social protection according to ideological preferences.

In a recent dissertation on the German welfare state, Philip Manow (2002) has likewise advanced the thesis that the German system of social protection, through a process of institutional coevolution, emerged as an important complement to the collective bargaining system, which in turn underwrote union wage restraint and international competitiveness. ) was compensated for by a social system that provided very high levels of insurance in the event of unemployment and other shocks to income. In earlier work, Peter Baldwin (1990) also challenges the notion that the welfare state was erected by the industrial working class alone, against the will of the middle classes.

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