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Abstract
The aim of this article is to analyze the difficulties currently being faced by regimes of social regulation of economic life and the ways in which they are being transformed. In order to address this complex question, transformations in the labour market are examined. Emphasis is given in particular to the fact that the decline in life-time jobs has had a destabilizing impact on employment systems. This is true not so much in terms of reduced employment. In fact, numerous job opportunities have been created in the tertiary sector, though insecure and badly paid, but these jobs do not reflect the traditional standards of social regulation and therefore entail a weakening of the mechanisms of social integration and a growing risk of exclusion. At this point the theme of the heterogeneity and polarization of working careers in service society is introduced, highlighting in particular the variety of regulatory forms with their different and changing mixes of family, state and market. These policy mixes form the basis for the various models of welfare capitalism identified here. Finally, consideration is given to the two main responses to this transitional phase in industrialized countries. On the one hand, in English-speaking countries which are characterised by intensive deregulation and the spread of flexible forms of work; on the other hand, in the countries of continental Europe where the redistributive modes of traditional welfare programmes have been preserved. Neither of these strategies, however, has produced new and lasting prospects for synergies between the economy and the society. Potential regulatory innovations would presuppose a reappraisal of modes of activity that are at present 'invisible' such as production for own consumption, family care, volunteer and charitable work and the creation of social capital. Political steps in this direction could lead to a new balance between state, market and family that would secure the level of cooperation needed for socially embedded economic life.
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