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      A RECONCEPTUALIZATION OF SOCIAL STRUCTURE OF ACCUMULATION THEORY

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      World Review of Political Economy
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            Abstract

            This article puts forward a reconceptualization of the theory of a social structure of accumulation (SSA). The thirty years of neoliberalism presenta problem for SSA theory. According to current SSA theory, an SSA is an institutional configuration that for a long period of time promotes rapid capital accumulation and economic growth. Although neoliberalism is clearly a new and long-lasting institutional structure that replaced the postwar SSA, growth in the neoliberal economy has been relatively sluggish. This article offers a revised concept of an SSA, which makes it possible to explain neoliberalism as an SSA. It argues that every SSA promotes profit-making but does not necessarily bring accumulation that is rapid by some historical standard. It introduces the concept of liberal and regulated SSAs and examines the features of both types of SSA. It considers the implications of this revised SSA theory for understanding the current capitalist economic crisis.

            Content

            Author and article information

            Journal
            worlrevipoliecon
            10.2307/j50005553
            World Review of Political Economy
            Pluto Journals
            2042891X
            1 July 2010
            : 1
            : 2
            : 209-225
            Article
            10.2307/41942915
            652986c3-a2d3-4e97-baeb-76ea8e4d3614
            © WORLD ASSOCIATION FOR POLITICAL ECONOMY 2010

            All content is freely available without charge to users or their institutions. Users are allowed to read, download, copy, distribute, print, search, or link to the full texts of the articles in this journal without asking prior permission of the publisher or the author. Articles published in the journal are distributed under a http://creativecommons.org/licenses/by/4.0/.

            History

            Political economics

            Notes

            1. Wolfson (1994b).

            2. Kotz (2009a)

            3. Kotz (2008).

            4. Kotz (2003)

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