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MW Lecture with Prof. David Soskice (LSE) - Advanced Capitalism, Advanced Democracies and National Autonomy: Symbiotic Most of the Time

Dates:
  • Wed 20 Mar 2019 17.00 - 18.30
  Add to Calendar 2019-03-20 17:00 2019-03-20 18:30 Europe/Paris MW Lecture with Prof. David Soskice (LSE) - Advanced Capitalism, Advanced Democracies and National Autonomy: Symbiotic Most of the Time

In this lecture, Prof Soskice looks at the relationship between the state, advanced capitalism, democracy, technology regime change, populism and globalisation. His recent book with Torben Iversen, "Democracy and Prosperity: Reinventing Capitalism through a Turbulent Century" (Princeton 2019) argues that from a long term perspective the performance of advanced capitalist democracies has been highly effective – certainly compared to any other political economic system. From the perspective of the hundred years since the end of the First World War – arguably the most turbulent in recorded history (apart from the C5th CE) – living standards have increased massively, and extreme poverty eliminated. By 1920 all the early industrialisers had become democracies, and most remarkably remained so (absent 35-45 and Czechoslovakia). Why such resilience? They argue that advanced capitalist systems are embedded in advanced democracies; that those in the advanced sectors and aspirational electorates only vote for governments promoting advanced capitalism; thus normally advanced democracies drive advanced capitalism, promoting competition and providing infrastructure. From modern economic geography, knowledge is increasingly embedded in skill clusters and agglomerating cities; hence advanced capital, whose profitability depends on knowledge, is politically weak being tied down and not footloose. Electoral backlash occurs as a result of technological regime change (Prof Soskice explains why); but populist parties are only durably successful when they can deliver desired change. Embedded knowledge by increasing specialisation promotes globalisation; and globalisation in the advanced world, operating through multinationals with knowledge based subsidiary networks, reinforces the autonomy of the advanced nation state. Thus the authors argue for a symbiosis between the autonomy of the advanced nation state, advanced capitalism and democracy – in opposition to the great theorists of capitalism and the state, from Schumpeter, Hayek and Lindblom, Marx and Poulantzas, to Streeck and Piketty.

Ellen Immergut (SPS Professor) will introduce the Lecture.
Per Andersson (MW SPS Fellow) will chair the Lecture.

Refectory, Badia Fiesolana DD/MM/YYYY
  Refectory, Badia Fiesolana

In this lecture, Prof Soskice looks at the relationship between the state, advanced capitalism, democracy, technology regime change, populism and globalisation. His recent book with Torben Iversen, "Democracy and Prosperity: Reinventing Capitalism through a Turbulent Century" (Princeton 2019) argues that from a long term perspective the performance of advanced capitalist democracies has been highly effective – certainly compared to any other political economic system. From the perspective of the hundred years since the end of the First World War – arguably the most turbulent in recorded history (apart from the C5th CE) – living standards have increased massively, and extreme poverty eliminated. By 1920 all the early industrialisers had become democracies, and most remarkably remained so (absent 35-45 and Czechoslovakia). Why such resilience? They argue that advanced capitalist systems are embedded in advanced democracies; that those in the advanced sectors and aspirational electorates only vote for governments promoting advanced capitalism; thus normally advanced democracies drive advanced capitalism, promoting competition and providing infrastructure. From modern economic geography, knowledge is increasingly embedded in skill clusters and agglomerating cities; hence advanced capital, whose profitability depends on knowledge, is politically weak being tied down and not footloose. Electoral backlash occurs as a result of technological regime change (Prof Soskice explains why); but populist parties are only durably successful when they can deliver desired change. Embedded knowledge by increasing specialisation promotes globalisation; and globalisation in the advanced world, operating through multinationals with knowledge based subsidiary networks, reinforces the autonomy of the advanced nation state. Thus the authors argue for a symbiosis between the autonomy of the advanced nation state, advanced capitalism and democracy – in opposition to the great theorists of capitalism and the state, from Schumpeter, Hayek and Lindblom, Marx and Poulantzas, to Streeck and Piketty.

Ellen Immergut (SPS Professor) will introduce the Lecture.
Per Andersson (MW SPS Fellow) will chair the Lecture.


Location:
Refectory, Badia Fiesolana

Affiliation:
Max Weber Programme

Type:
Lecture

Contact:
Francesca Grassini (EUI - Max Weber Programme) - Send a mail

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Page last updated on 18 August 2017