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Title: Postfordism as a dysfunctional accumulation regime: A comparative analysis of the USA, the UK and Germany
Authors: Vidal, Matt
Keywords: Accumulation regimes
Crisis
Debt
Debt-led growth
Deunionisation
Financialization
Fordism
Job polarisation
Marxism
Regulation theory
Postfordism
Issue Date: 2013
Publisher: © The authors. Published by SAGE Journals
Citation: VIDAL, M., 2013. Postfordism as a dysfunctional accumulation regime: A comparative analysis of the USA, the UK and Germany. Work, Employment and Society, 27(3), pp. 451-471.
Abstract: The article seeks to reanimate the early regulation theory project of building Marxist political economy through the development of mid-range institutional theory. The concept of a mode of regulation - central to the Parisian wing of regulation theory - is rejected in favour of a distinction between functional and dysfunctional accumulation regimes. The Fordist regime of accumulation provided a unique institutional context allowing an extraordinary combination of high profits, rising real wages and strong GDP growth. In contrast, the postfordist regime is shown to be inherently dysfunctional, characterized by manifest tendencies toward stagnation and associated regressive trends in work and employment relations. A comparative analysis of profit rates, wage shares, growth rates and debt in the USA, UK and Germany shows that the single model of postfordism as a dysfunctional accumulation regime fits all three countries, although with important differences in forms of dysfunctionality. © The Author(s) 2013.
Description: This paper was accepted for publication in the journal Work, Employment and Society and the definitive published version is available at https://doi.org/10.1177/0950017013481876
Version: Accepted for publication
DOI: 10.1177/0950017013481876
URI: https://dspace.lboro.ac.uk/2134/27599
Publisher Link: https://doi.org/10.1177/0950017013481876
ISSN: 0950-0170
Appears in Collections:Published Articles (Loughborough University London)

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