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The relevance of the exit option: the challenge for European trade unions of post-Fordism, internationalisation of the economy and financial market capitalism

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  • Jürgen Hoffmann

    (Professor of Political Sociology at Hamburg University and associate researcher at the ETUI-REHS)

Abstract

This paper examines the links between restructuring of production (post-Fordism), Europeanisation/globalisation of the economy and changes in the financial markets (financial market capitalism). It describes how, at European level, the greater scope for capital to relocate away from existing systems (labour markets, nation states), i.e. to make use of the ‘exit option’, dramatically shifts the balance of power between employees/trade unions and capital to the benefit of the latter. At the same time the paper also identifies the natural limits of the exit option that could offer trade unions scope for action.

Suggested Citation

  • Jürgen Hoffmann, 2006. "The relevance of the exit option: the challenge for European trade unions of post-Fordism, internationalisation of the economy and financial market capitalism," Transfer: European Review of Labour and Research, , vol. 12(4), pages 609-620, November.
    • Handle: RePEc:sae:treure:v:12:y:2006:i:4:p:609-620
    DOI: 10.1177/102425890601200410
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    References listed on IDEAS

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    1. Ludger Pries, 2006. "Cost competition or innovation competition? Lessons from the case of the BMW plant location in Leipzig, Germany," Transfer: European Review of Labour and Research, , vol. 12(1), pages 11-29, February.
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