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Money, Markets, and the State
Social Democratic Economic Policies since 1918

$60.00 (C)

Part of Cambridge Studies in Comparative Politics

  • Date Published: February 2007
  • availability: Available
  • format: Paperback
  • isbn: 9780521033268

$ 60.00 (C)

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About the Authors
  • Money, Markets, and the State provides in-depth explanations behind the various successes and failures of the economic policies of social democratic governments in five Western European countries: Germany, Great Britain, Sweden, Norway and the Netherlands. Dr. Notermans examines these economic systems from the inflation of the early twenties, through the Great Depression of the thirties, and then continues his analysis up to present-day mass unemployment. Drawing on a wide range of historical and statistical sources, Dr. Notermans argues that the fate of social democratic economic policy hinges critically on the political and institutional success of maintaining price stability.

    • Provides a theoretical argument abut the development of Western European social democracy
    • Provides an interesting interpretation of the causes of growth and economic stagnation during this century
    • Offers a wide range of comparative study between five European countries
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    Reviews & endorsements

    "A timely and thought-provoking analysis of the macroeconomic forces and policies that have determined the strength and weakness of social democracy in Western Europe from the 1920es till now. Notermans' broad comparative and historical interpretation is a refreshing and masterful synthesis. It deserves wide attention by political scientists, economists and economic historians." Lars Jonung, Stockholm School of Economics

    "In its historical sweep, economic sophistication, and analytic coherence, Notermans' theory of the basic constraints shaping macroeconomic policy in advanced capitalist countries is audacious and compelling. No discussion of economic policy dilemmas facing governments--not just social democratic ones--should proceed without taking it into account." Andrew Martin, Center for European Studies, Harvard University

    "Notermans fires a cannon shot at comparative studies. The next century of social democracy will bring neither the end of socialism nor its "third way" transformation but rather the continuation of the cycle of social-democratic expansive macroeconomics and liberal disinflationary macroeconomics. This is a great claim, on a par with Hirschman's claim about the cycle of public and private involvement. It is based on methodological clarity and deep understanding of archives, theories and countries. Here is real synthesis of economic and political science at its best." Jos de Beus, University of Amsterdam

    "[E]xtremely distinctive ... deeply impressive." Review of International Political Economy

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    Product details

    • Date Published: February 2007
    • format: Paperback
    • isbn: 9780521033268
    • length: 324 pages
    • dimensions: 229 x 152 x 18 mm
    • weight: 0.48kg
    • contains: 15 b/w illus. 23 tables
    • availability: Available
  • Table of Contents

    List of tables and figures
    List of abbreviations
    A note on terminology
    1. Social democracy in the macroeconomy
    2. Politics, economics and political economy
    3. Why was there no social democratic breakthrough in the twenties?
    4. The creation of the social democratic consensus
    5. The breakdown of the social democratic consensus
    6. Social democracy in the twenty-first century

  • Author

    Ton Notermans, Universitetet i Tromsø, Norway

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