Chapter

Stagflation

Robin Archer

in Economic Democracy

Published in print December 1998 | ISBN: 9780198295389
Published online November 2003 | e-ISBN: 9780191598722 | DOI: http://dx.doi.org/10.1093/0198295383.003.0008
 Stagflation

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Shows that the conditions for a control trade‐off were in fact met during the period of stagflation, which lasted from the mid‐1970s to the early 1980s. It examines the need for wage restraint, the impact of corporatism and centralized wage bargaining on unemployment and inflation, and the effect of co‐determination in Germany, the Meidner plan in Sweden, and other efforts to incrementally increase workers’ control. The chapter also shows that a trade‐off would be feasible even if workers were solely concerned with their material well‐being and suggests that increasing workers’ control through pension and other investment funds is a particularly promising strategy in such a period.

Keywords: co‐determination; corporatism; Germany; inflation; Rudolf Meidner; pension funds; stagflation; Sweden; unemployment; wage bargaining

Chapter.  9530 words.  Illustrated.

Subjects: Political Theory

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