Saving capitalism with a new Fordism

Michael Lind - 23 April 2013

The Great Recession has discredited neoliberalism. In advanced economies, recovery has to come from a new Fordism, so that workers can afford the services they provide

The Great Recession has discredited neoliberalism, which combined conservative optimism about deregulated markets with progressive support for education and the safety net.  The present crisis arose from the toxic interaction of mercantilism among the rising economies, particularly in China and other export-oriented East Asian countries, with post-Fordism in the advanced developed economies, particularly the US. Developing economies need a transition to traditional Fordism, so that their workers can afford the goods they make.  In the advanced economies, the transition has to be from post-Fordism to a new Fordism in the service sector, so that their workers can afford the services they provide.

The following briefly explains how we arrived at the current juncture before looking at what needs to be done to save capitalism. 

http://www.policy-network.net/pno_detail.aspx?ID=4371&title=Saving-capitalism-with-a-new-Fordism