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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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Identification Number: 10.1093/oxrep/grab032


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:
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: 10 Dec 2021 09:48

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