Affiliation:
1. Central Connecticut State University, USA,
Abstract
This article proposes a Marxian conceptual and empirical framework for understanding the disparate research on neoliberalism. In so doing, it examines the logic and processes of neoliberal transformation, focusing on both its theoretical and practical dimensions. As a consequence of the 1974—82 economic slump, with its crisis of profitability, advanced capitalist nations moved away from the socialization of economic activity and embraced the elements of coercive competition (market contestability, state rationalization, and factor mobility). During the early phase of neoliberalism, coercive competition recast the balance of class forces, remade the mode of production, and reorganized the accumulation process of social formations, helping to restore higher levels of profitability.
Subject
Sociology and Political Science
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