Capitalism needs a new social contract

Shafik, Minouche (2021) Capitalism needs a new social contract. Oxford Review of Economic Policy, 37 (4). 758 – 772. ISSN 1460-2121

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Abstract

Capitalism needs a new social contract to better manage the consequences of technology and an increasingly diverse and flexible workforce. That social contract should retain the benefits of flexibility but do a better job of providing security in the form of mandatory benefits, putting a floor on incomes, and investing far more in helping workers adapt to economic shocks and rising automation. It also means a new deal with business that would achieve a more level playing field in how capital and labour are taxed.

Item Type:	Article
Official URL:	https://academic.oup.com/oxrep
Additional Information:	© 2021 The Author
Subjects:	H Social Sciences > HB Economic Theory
JEL classification:	P - Economic Systems > P0 - General > P00 - General J - Labor and Demographic Economics > J0 - General > J08 - Labor Economics Policies I - Health, Education, and Welfare > I3 - Welfare and Poverty > I38 - Government Policy; Provision and Effects of Welfare Programs A - General Economics and Teaching > A1 - General Economics > A13 - Relation of Economics to Social Values
Date Deposited:	08 Oct 2021 14:33
Last Modified:	12 Dec 2024 02:41
URI:	http://eprints.lse.ac.uk/id/eprint/112213

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