Structural Crisis and Institutional Change in Modern Capitalism

French Capitalism in Transition

Nonfiction, Social & Cultural Studies, Political Science, Politics, Economic Conditions, Business & Finance
Cover of the book Structural Crisis and Institutional Change in Modern Capitalism by Bruno Amable, OUP Oxford
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Author: Bruno Amable ISBN: 9780191091896
Publisher: OUP Oxford Publication: March 16, 2017
Imprint: OUP Oxford Language: English
Author: Bruno Amable
ISBN: 9780191091896
Publisher: OUP Oxford
Publication: March 16, 2017
Imprint: OUP Oxford
Language: English

This book analyses the evolution of the French model of capitalism in relation to the instability of socio-political compromises. In the 2010s, France was in a situation of systemic crisis, namely, the impossibility for political leadership to find a strategy of institutional change, or more generally a model of capitalism, that could gather sufficient social and political support. This book analyses the various attempts at reforming the French model since the 1980s, when the left tried briefly to orient the French political economy in a social-democratic/socialist direction before changing course and opting for a more orthodox macroeconomic and structural policy direction. The attempts of governments of the right to implement a radically neo-liberal structural policy also failed in the face of a significant social opposition. The enduring French systemic crisis is the expression of contradictions between the economic policies implemented by the successive left and right governments, and the existence of a dominant, social bloc, that is, a coalition of social groups that would politically support the dominant political strategy. Since 1978, both the right and the left have failed to find a solution to the contradictions between the policies they implemented and the expectations of their respective social bases, which are themselves inhabited by tensions and contradictions that evolve with the structural reforms that gradually transformed French capitalism.

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This book analyses the evolution of the French model of capitalism in relation to the instability of socio-political compromises. In the 2010s, France was in a situation of systemic crisis, namely, the impossibility for political leadership to find a strategy of institutional change, or more generally a model of capitalism, that could gather sufficient social and political support. This book analyses the various attempts at reforming the French model since the 1980s, when the left tried briefly to orient the French political economy in a social-democratic/socialist direction before changing course and opting for a more orthodox macroeconomic and structural policy direction. The attempts of governments of the right to implement a radically neo-liberal structural policy also failed in the face of a significant social opposition. The enduring French systemic crisis is the expression of contradictions between the economic policies implemented by the successive left and right governments, and the existence of a dominant, social bloc, that is, a coalition of social groups that would politically support the dominant political strategy. Since 1978, both the right and the left have failed to find a solution to the contradictions between the policies they implemented and the expectations of their respective social bases, which are themselves inhabited by tensions and contradictions that evolve with the structural reforms that gradually transformed French capitalism.

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