Skip Navigation

Socio-Economic Review 2004 2(3):415-424; doi:10.1093/soceco/2.3.415
This Article
Right arrow Full Text (PDF)
Right arrow Alert me when this article is cited
Right arrow Alert me if a correction is posted
Services
Right arrow Email this article to a friend
Right arrow Similar articles in this journal
Right arrow Alert me to new issues of the journal
Right arrow Add to My Personal Archive
Right arrow Download to citation manager
Right arrowRequest Permissions
Google Scholar
Right arrow Articles by Tsakalotos, E.
Right arrow Search for Related Content
Related Collections
Right arrow D63 - Equity, Justice, Inequality, and Other [...]
Right arrow D64 - Altruism
Right arrow P10 - General
Right arrow P12 - Capitalist Enterprises
Right arrow P16 - Political Economy
Right arrow P17 - Performance and Prospects
Social Bookmarking
Add to CiteULike   Add to Connotea   Add to Del.icio.us  
What's this?

© Oxford University Press and the Society for the Advancement of Socio-Economics 2004. All rights reserved.

Market constraints, economic performance and political power: modernizers versus leftists

Euclid Tsakalotos1

Department of International and European Economic Studies, Athens University of Economics and Business, 76 Patission St, Athens 104 34, Greece

Correspondence: tsakalotos{at}aueb.gr

This paper extends Wright's critique of Streeck's "Beneficial Constraints" paper to show why noncapitalist groups may rationally oppose deregulation even when constraints are beyond the level necessary for optimal economic performance. Starting from a point of "excessive" regulation, a move towards a state which is superior both in terms of economic efficiency and equity (defined as a redistribution in favour of the least well-off within the noncapitalist group) may not constitute a stable equilibrium once relations of power are considered. Under plausible assumptions further deregulation may be hard to resist to the detriment of both insiders and outsiders within the noncapitalist block. In this context opposition to liberal reforms is neither irrational nor necessarily bowing to "sectional" interest groups.

Key Words: neo-liberalism • structural reforms • institutional economies • JEL classification: P1, P16, P17


Add to CiteULike CiteULike   Add to Connotea Connotea   Add to Del.icio.us Del.icio.us    What's this?




Disclaimer:
Please note that abstracts for content published before 1996 were created through digital scanning and may therefore not exactly replicate the text of the original print issues. All efforts have been made to ensure accuracy, but the Publisher will not be held responsible for any remaining inaccuracies. If you require any further clarification, please contact our Customer Services Department.