Economic Ideas and the Labor Market: Origins of the Anglo-American Model and Prospects for Global Diffusion
Sanford M. Jacoby
University of California, Los Angeles
This essay surveys economic thought in Britain and the United States to assess the influence that economists have had on developments in the marketplace and in government (and also to show reverse causation; economic thinking is less free of historical circumstances than economists appreciate). Next it examines whether recent Anglo-American developments are reproducing themselves in other parts of the world, that is, whether we see synchronous swings from status to contract in continental Europe and Japan. Finally, the essay asks what the future holds in store for labor and employment policy: will we see a continued pulsing of Polanyi's double movement or a triumph of the liberal Anglo-American model?
Number of Pages in PDF File: 38
Keywords: Contractualism, status, employment, convergence, economists
JEL Classification: A11, B10, B20, D70, H10, J00, K00
Date posted: November 18, 2004