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The market turn: from social democracy to market liberalism

Abstract:

Social democracy and market liberalism offered 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 limits of public expenditure in the 1970s. The 'market turn' from social democracy to market liberalism was enabled by easy credit in the 19...

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Publication status:
Published

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Publisher:
University of Oxford Publisher's website
Series:
Oxford Economic and Social History Working Papers
Publication date:
2017-01-09
Paper number:
149
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Pubs id:
1143572
Local pid:
pubs:1143572
Deposit date:
2020-12-14

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