Economic Policies for a Post-Neoliberal World

Preface
Contents
Notes on Contributors
List of Figures
List of Graphs
List of Tables
1: Financial Stability: Still Unsettled for the Future
	1	 Introduction
	2	 Financial Stability and Post-GFC Proposals
		2.1	 US Dodd-Frank Act
		2.2	 UK Vickers Report
		2.3	 The European Commission’s Liikanen Report
		2.4	 The IMF Proposal
		2.5	 The Basel III/Basel IV Package
	3	 Further Financial-Stability Problems
		3.1	 Potential Financial Instability
	4	 Required Policies for Financial Stability
		4.1	 Current and Future State of Economies
		4.2	 Required Financial-Stability Policies
	5	 Summary and Conclusions
	References
2: The Future of Capitalism in a Post-Neoliberal World
	1	 Introduction
	2	 The Emergence Spread and Dominance of ‘Neoliberalism’
	3	 Neoliberalism and the Collapse of Communism
	4	 The Era of ‘Neoliberal’ Hegemony. Is It Coming to an End?
	5	 The Nature, Underlying Causes and Policy Response to the Climate Change Challenge
	6	 The Political Economy of Global Policymaking
	7	 Neoliberalism in the Aftermath of the Crisis Caused by the COVID-19 Pandemic
	8	 Summary and Conclusions
	References
3: Moving People in a Post-Neoliberal Era
	1	 Introduction
	2	 Neoliberalism and ‘Free Movement’
	3	 Factor Mobility, the Economy and Inequality
		3.1	 Capital Flows, Migration and Growth
		3.2	 Factor Mobility and Inequality: A Closer Look at Migration
	4	 Free Movement of People Between State and Markets
	5	 The Economics of Migration Networks
	6	 Migration Preferences and Political Economy Considerations
	7	 From Locational Choice to Welfare Effects of Migration
	8	 A Choice Between Free Movement of People and Public Services
	9	 Freedom of Movement of Workers: An Annex to Free Trade
	10	 Free Movement of People: A European Case Study
		10.1	 Free Movement of People and Free Movement of Workers
		10.2	 Extending Freedom of Movement
		10.3	 How Free Movement Shifted East
	11	 Bilateral Agreements for Labour Mobility
	12	 Summary and Conclusions
	Appendix
	References
4: Productivity Slowdown and Inequality: Killing Two Birds with One Stone!
	1	 Introduction
	2	 Literature Review
	3	 Productivity Puzzle
	4	 Inequality and Productivity
	5	 Policies to Tackle This Twin Problem
	6	 Concluding Remarks
	References
5: Environmental Policies to Save the Planet
	1	 Introduction
	2	 Economic Development and Environmental Degradation
		2.1	 The Concept of Natural Capital
		2.2	 The Key Threats to Ecosystem Services
		2.3	 The Response of Neoliberal Economics
		2.4	 The Response of Mainstream Economics
		2.5	 The Choice of the Discount Rate
		2.6	 The Damages That Will Arise from GHG Emissions
		2.7	 The Costs of Abatement/Mitigation
		2.8	 The Treatment of Uncertainty
		2.9	 Is Raising the Carbon Price an Adequate Policy Response?
	3	 What Would Getting to Net-Zero Greenhouse Gas Emissions by 2050 Look Like?
		3.1	 Possible Futures
	4	 Obstacles and Policies
		4.1	 The Macroeconomic Impact
		4.2	 Winners and Losers and Higher Costs for Those Unable to Mitigate the Impact of Carbon Taxes
		4.3	 The Take-Up and Cost of Clean Technologies
		4.4	 The Mobilisation of Finance
		4.5	 A Green New Deal
		4.6	 Making Space for Conservative Environmentalism?
	5	 Summary and Conclusions
	References
6: Public Ownership in the Pursuit of Economic Democracy in a Post-Neoliberal Order
	1	 Introduction
	2	 Privatisation’s Contradictions, Failings and Mutations
	3	 The Return of the State, Public Ownership and the Remunicipalisation Wave
	4	 Two Cheers for Europe’s Municipal Energy Transition
	5	 Decentralised Public Ownership Beyond the Market
	6	 Envisaging Democratic Public Ownership
	7	 Summary and Conclusions
	References
7: Welfare as Freedom, the Human Economy, and Varieties of Capitalist State
	1	 Introduction
	2	 Comparative Capitalism and Human Development
		2.1	 Welfare as Freedom and Liberal Neutrality
		2.2	 The Human Economy, Institutions, and Freedom
	3	 Public Sector Development and Systems of Cooperation in Nordic and Anglo-Saxon States
		3.1	 Actual Equality, State Formation, and Freedom
	4	 Public Finance, Systems of Institutions, and Developmental Coherence in Capitalist States
		4.1	 Progressive Public Finance and Horizontal-Developmental Versus Hierarchical-Competitive Systems
	5	 Public Sector Incorporation and Control of Time, Activities, and Social Relations
	6	 Universal Basic Income and Systems of Well-Being
	7	 Summary and Conclusions
	Appendix
	References
8: Employment and Wage Policies in a Post-Neoliberal World
	1	 Introduction
	2	 Capitalism as Instituted Economic Process
	3	 Institutions and Inequality
	4	 The ‘Malign Spirit’ of Contemporary Capitalism: Regulatory Competition, Tax Avoidance and the Erosion of the Rule of Law
	5	 New Wage and Employment Policies: Feasibility and Policy Delivery
		5.1	 Stabilising the Employment Relationship
		5.2	 Trends in the Regulation of Precarious and Informal Work
		5.3	 Minimum Wages and Sectoral Collective Bargaining
		5.4	 Public Enforcement of Labour Laws
		5.5	 Labour Rights and International Trade: The Evolving Role of the ILO
		5.6	 Labour Market Measures During the COVID-19 Crisis
	6	 Summary and Conclusions
	References
Index