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Driver, Ciaran (1996) 'Stagnation as a Problem of Transition: Arguments and Proposals.' Cambridge Journal of Economics, 20 (5). pp. 553-564.

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Abstract

Policy response to mass unemployment in advanced capitalist economies almost never concerns itself with the evolution of the problem and is preoccupied with pricing people back into work. This paper adopts the Régulation/Long Wave perspective: growth is punctuated by periods of structural change which indicate a break between patterns of accumulation. Transition to a new growth path is problematic. The focus of this paper is on the uncertainty that is generated by structural change. It is argued that heightened uncertainty that is generated by structural change. It is argued that heightened uncertainity prolongs adjustment, by inhibiting capital and other irreversible investments.

Item Type: Journal Article
SOAS Departments & Centres: Departments and Subunits > School of Finance & Management
Legacy Departments > Faculty of Law and Social Sciences > School of Finance and Management
ISSN: 0309166X
DOI (Digital Object Identifier): https://doi.org/10.1093/oxfordjournals.cje.a013634
Date Deposited: 15 Aug 2015 15:28
URI: https://eprints.soas.ac.uk/id/eprint/20512

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