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The market turn: from social democracy to market liberalism

Abstract:

Social democracy and market liberalism provide different solutions to the same problem: how to provide for life‐cycle dependency. Social democracy makes lateral transfers from producers to dependents by means of progressive taxation. Market liberalism uses financial markets to transfer financial entitlement over time. Social democracy came up against the upper limits of public expenditure in the 1970s. The ‘market turn’ from social democracy to market liberalism was enabled by liberalized cre...

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Publication status:
Published
Peer review status:
Peer reviewed
Version:
Accepted Manuscript

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Publisher copy:
10.1111/ehr.12537

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Institution:
University of Oxford
Department:
Nuffield College
Publisher:
Wiley Publisher's website
Journal:
Economic History Review Journal website
Volume:
70
Issue:
4
Pages:
1051–1071
Publication date:
2017-04-12
Acceptance date:
2017-01-30
DOI:
EISSN:
1468-0289
ISSN:
0013-0117
Pubs id:
pubs:686144
URN:
uri:316d47dd-a02d-47af-9237-2c59f27ad265
UUID:
uuid:316d47dd-a02d-47af-9237-2c59f27ad265
Local pid:
pubs:686144

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