Infrastructure Investment for Full Employment: A Social Democratic Program of Funds Regulation

Title
Infrastructure Investment for Full Employment: A Social Democratic Program of Funds Regulation
Publication Date
2010
Author(s)
Ramsay, Tony
Lloyd, Christopher
Type of document
Journal Article
Language
en
Entity Type
Publication
Publisher
University of Sydney, School of Economics
Place of publication
Australia
UNE publication id
une:6722
Abstract
Since the election of the Rudd Government in 2007 and the Global Financial Crisis (GFC) from 2008, a new debate has begun in Australia that links social democratic socio-economic policy, infrastructure inadequacy, and retirement incomes. These issues can indeed be reexamined together in the light of the quasi-Keynesian state activism that has erupted in response to the GFC. Residual Keynesianism has come to the fore again in the advanced western capitalist countries, in the forms of deficit financing, increased state regulation, and nationalisations in the banking sector. Politically, this suggests that Social Democracy remained alive (although driven into temporary retreat) as the alternative regulatory framework throughout its period of supposed eclipse by Self-Regulatory (or Neo-Liberal) Capitalism since the 1970s. Perhaps we are now witnessing a significant shift in the dominant political economic regime in response to the GFC. This paper tries to make a contribution to this debate by examining the centrality of managed funds to the development of a social democratic strategy.
Link
Citation
Journal of Australian Political Economy (65), p. 59-87
ISSN
1839-3675
0156-5826
Start page
59
End page
87

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