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Micro Initiatives and Macroeconomic Adjustments in the Industrialised Countries

In: Structural Change, Economic Interdependence and World Development

Author

Listed:
  • M. Didier

    (Ecole Polytechnique)

Abstract

Since the turn of the twentieth century, the functioning of the capitalist economies has been radically changing. The structures of the production sector were upset as the agricultural population dwindled, as the large companies and the wages system developed, and mass production and industrial and urban concentration burgeoned. The competitive capitalism of the early years of the century gave way to monopolistic capitalism, the apex of which may be associated with the thirty years of rapid growth after the Second World War. In some ways, the crisis of the 1970s, manifested notably in the sudden and persistent rise in unemployment, can be interpreted as a jamming of the monopolistic system.

Suggested Citation

  • M. Didier, 1987. "Micro Initiatives and Macroeconomic Adjustments in the Industrialised Countries," International Economic Association Series, in: Luigi Pasinetti & Peter Lloyd (ed.), Structural Change, Economic Interdependence and World Development, chapter 12, pages 159-175, Palgrave Macmillan.
    • Handle: RePEc:pal:intecp:978-1-349-18840-6_12
    DOI: 10.1007/978-1-349-18840-6_12
    as

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