Activity

World labor unrest in the twentieth century, we argued in Chapter 4, has been embedded in a pendulum swing between crises of profitability and crises of social legitimacy. The crisis of profitability marked by the Great Depression of the late nineteenth century was resolved through a series of fixe…

The financial fix and the shift in international regimes are critical explanatory factors because they are the two elements that distinguish the late-nineteenth- and late-twentieth-century periods of globalization from the thirty to forty years following the Second World War. As we argued in Chap…

More generally, there has been a systemic tendency for technological and product fixes to recurrently produce monopoly windfall profits in high­ income countries where innovations concentrate, while low-income coun­tries rarely share in the windfall. Moreover, protectionism has also played a promin…