José Eli da Veiga
USP/FEA/ Dep. Economics
zeeli@usp.br
The
purpose of this paper is to compare the foundations of two theoretical lines
that have frequently been used in political economy[1]:
the evolutionist and the regulationist. The
choice of these two, among so many other epistemological frameworks, is not
random. It is justified by the
broadness of their pretensions (structural changes and the long term dynamic of
the developed capitalist economies), their age (both are around twenty years
ond) and, evidently, by their growing influence among Brazilian researchers.
The
basic premise is that these two lines are still closely linked to their
respective parents: the works of Schumpeter and Marx.
That is, both their similarities and their differences are more in their
genetic codes than in their adaptations to the environment in which they
developed: neoclassical
microeconomics and Keynesian and Kaleckian macroeconomics.
There may be evolutionists who are not (neo)Schumpeterians and
regulationists who are not (post)Marxists.
But they would be isolated cases. The
root of the evolutionist line is Schumpeterian (Nelson & Winter,1982), just
as the root of the regulationist line is Marxist (Aglietta, 1979).
The
first part of this paper is devoted to a quick presentation of the aspects
Marx's and Schumpeter's methodologies have in common.
The second deals not with all the discrepancies between the two lines of
thought, but rather highlights that which is at the core of the current
divergences between the evolutionists and the regulationists. And in parts 3 and 4, recent developments from this debate
are described, with a view to detecting possible avenues to convergence.
The
most important point Marx and
Schumpeter have in common - and what separates them radically from other great
thinkers - is the importance they
both give to history in their respective methodologies.
There can be no doubt on this point, as Schumpeter himself always
emphasized that his dissatisfaction with neoclassical economics led him to
construct a vision of economic development that he considered "parallel"
to that of Marx, the first great economist not to put theory and history into
separate compartments.
His
praise of Marx in 'Theory of Economic Development', might be considered juvenile
exaggeration, as it was published in 1911 when he was only 28.
Notwithstanding, it is also quite frequent in his more mature works.
For example, in Capitalism,
Socialism, and Democracy, published in 1942, he says:
“Economists always have either themselves done work
in economic history or else used the historical work of others. But the facts of
economic history were assigned to a separate compartment. They entered theory,
if at all, merely in the role of illustrations, or possibly of verifications of
results. They mixed with it only mechanically. Now Marx’s mixture is a
chemical one; that is to say, he introduced them into the very argument that
produces the results. He was the first economist of top rank to see and to teach
sistematically how economic theory may be turned into historical analysis and
how the historical narrative may be turned into histoire raisonée.” (Schumpeter, 1950:44)
In
History of Economic Analysis, a posthumous publication written in
the 40s, there is a famous passage in which he insists that the big problem is
economists' lack of "historical experience" (Schumpeter, 1954:12-13)[2].
And in his articles for the Journal
of Economic History appeals are common for a greater understanding between
theoretical economists and economic historians, for a joint investigation into
the "neglected area of economic change".
“Schumpeter’s notion of ‘historical experience’
implies that the division of labor between the economic historian and economic
theorist must be eliminated. To study the process of change, theory and history
must be integrated in the mind of the economist.”
(Lazonick,1994:253)
Unfortunately
this challenge to integrate theory and history is still ignored by the majority
of economists. Not least
by Marxists who think all the laws of capitalist development were
established by their Master in mid-19th century.
So, one of the main issues about this "rebirth" of Marx (with
regulationism) and Schumpeter (with evolutionism) is precisely to find out if
the aforementioned challenge is finally being taken seriously.
As
concerns the regulationist project, the answer is simple, since the purpose of
integrating theory and history seems to constitute its backbone (Boyer,1986;1988a;1988b).
With regard to the evolutionist project, however, the answer is a little
more complicated.
Nelson
& Winter (1982: 405) bemoan the divorce between economic science and other
social sciences, but they refer specifically to psychology, sociology, and
political science, with no mention whatsoever of history.
Perhaps there is a possible interpretation to be found in the
evolutionist interest in microeconomic modeling.
On the very first page of a recent treatise on the subject we read the
following:
“We
now have the possibility of treating complex evolutionary processes with an
increasing degree of clarity and rigour. At the same time we have to recognise a
danger that Schumpeter’s insights are ignored just as are the works of other
pre-war contributors to the study of economic evolution. There is also a danger
that the evolutionary-oriented studies of some economic historians like Chandler
disappear from the analytic horizon of evolutionary-economic researchers.”
(Andersen,1994:ix)
Another
confirmation can be found in a recent examination by Nelson, in which he
demonstrates little interest for broader approaches to economic development:
“While
many historical accounts of economic growth are concerned with whole economies,
I believe that, for the purpose at hand, the best way to make progress is by
trying to develop industry - or sectoral-level models. There is too much
diversity across economic sectors to hope that a model that aggregates them all
can achieve the contact with empirical developmental history I am seeking. There
is a better chance of fruitful sector-level modelling.” (Nelson,1994:22)
Nevertheless,
other evolutionists are well engaged in the integration of theory and history.
Fine examples can be found in the works presented at the conference 'Technology
and Enterprise in a Historical Perspective' (Terni, Italy; October 1987) from
which emerged an interdisciplinary magazine Corporate
and Industrial Change (Oxford University Press) (Dosi, Gianetti &
Toninelli, 1992). They show that
evolutionism's more microeconomic nature does not keep the challenge from being
taken seriously. In other words,
it would be wrong to state that the methodological parallelism existent
between Marx and Schumpeter does not occur between the evolutionist and
regulationist projects just because the former was initially more directed
toward microeconomic formalization.
Because
they gave so much importance to history, both
Marx and Schumpeter developed dynamic visions of capitalism, in which the waving
(or cyclical) character is not the least bit secondary or peripheral.
To both, fluctuation is at the core of the functioning of the system.
Unfortunately, Marx did not formulate an explicit theory on the subject,
as Schumpeter did at Harvard during the Great Depression (Schumpeter, 1939). And it is precisely in these two volumes on "business
cycles" that we find the fundamental contrast with Marx's ideas on the
process of accumulation. To
Schumpeter, the essence of the process is in innovations; to Marx, it is in
class struggles. And the ideas that
separate, nowadays, the evolutionist and regulationist projects are similar.
Clearly
the differences between Marx and Schumpeter are not limited to their respective
ideas on the waving nature of capitalist economics.
A comparison between the two research programs and the respective
heuristic and epistemological presuppositions, as made by Helburn (1986a,
1986b), reveals innumerable other points on which Schumpeter rejects - or
inverts - some of Marx's important economic and social ideas.
But all of them are connected to the principle that entrepreneurial
leadership is much more important than social struggles.
“Schumpeter adopts what he takes to be Marx’s
research program and, like him, attempts to uncover the laws of motion of
capitalist development. His purpose is clearly to defuse Marx’s theory of
revolution by converting it to a theory of evolution.”
(Helburn,1986b:154-155)
“(...) he substituted his own theory of class and
class relations based on his ideas about leadership and followership in which
entrepreneurs carry out the ‘new combinations’ that promote capitalist
development.” (Helburn,1986b:156)
Today,
the evolutionist and regulationist projects are most distinguished precisely by
their respective emphases on innovations and institutions.
For the former, the periods of expansion are linked to the introduction
and spread of important inventions, while the depressions are viewed as periods
of transition between two technological regimes. For the latter, the rate of accumulation is not essentially
determined by technological process, but rather depends crucially on the
institutions that permit the capitalists to exercise power.
This
contradiction is quite evident in the introduction to the annals of the workshop
"Technological and Social Factors in Long Term Fluctuations", held in
December 1986, in Siena (Italy)[3].
Even so, the differences between evolutionism and regulationism were not
seen as mutually exclusive. On the
contrary, the editors of the annals thought the more systematic
discussion of the two models would be extremely interesting and useful in the
construction of a general theory for the dynamic behavior of capitalist economy.
(Di Matteo, Goodwin & Vercelli, 1989)
Will
it be possible to reiterate the optimism of Di Matteo, Goodwin & Vercelli,
ten years after the workshop in Siena? Does
the more recent scientific debate confirm the idea that the two approaches are
not mutually exclusive? Are the
divergences diminishing? Has there
been a convergence between the evolutionists and the regulationists?
These
are the issues around which the discussion of the two theoretical lines might be
organized. What follows is an
attempt to respond to these queries.
In
the preface to the second part of a collection edited by Dosi et al. (1988),
Freeman mentions important points of correspondence between regulationism and
the Freeman-Perez model of the role of institutions.
After summing up Boyer's contribution to the same collection, he suggests
that: a) the ideas of the two lines are complementary; b) there could be a
synthesis if the regulationists would begin to pay more attention to
technological determination and if the evolutionists would develop their
analyses of institutional forms.
“To
the reader it may appear that the ideas of Perez and of the French Regulation
School are sufficiently complementary to offer scope for an original synthesis.
The French regulation school, although acknowledging the importance of technical
change, have paid relatively little attention to it, whilst Freeman-Perez have
not developed so far their analysis of institutional forms or of aggregated
formal models of the economy.” (Freeman,1988:11-12)
There
is, in fact, a great similarity between the notion of the "techno-economic
paradigm" from the Freeman-Perez model (1988)[4]
and the ideas of "technological/ industrial paradigm" joined by
Lipietz (1989) to the concepts of "regime of accumulation" and
"mode of regulation" to form the trinity that defines his "model
of development". But this
similarity can be deceptive. Despite
being transformed into a sort of magic word among social scientists, the sense
of the word 'paradigm' is rather vague.
In
the postface of the second edition of his masterpiece, Thomas Kuhn (1970:181)
admitted to having used the word with 22 different meanings.
But he added that, after a good editorial revision, they managed to
narrow it down to only 2. The first is "disciplinary matrix" and the second "shared examples". The
ambiguous "disciplinary matrix"
is composed of "paradigms, parts of
paradigms or paradigmatics' ", which form a whole and work together.
The "shared examples"
(less ambiguous) are those that permit the development of a common scientific
language and a common approach to similar problems.
Even so, these two definitions are far from perfect, as Homa Katouzian
indicates:
“Be
that as it may, neither usage of the concept of paradigm helps clear an
important, almost central, question. It is this: does the theory of scientific
revolutions only apply to wider systems of thought, conceptual frameworks or
whatever; or does it equally apply to all the models and theories based on such
a system or framework? From the historical illustrations in the main text the
reader gains the impression that they are all subject to the process described
by Kuhn; but this is nowhere clearly stated.” (Katouzian,1980:96)
In
other words, in the case of a immature science (such as economics), it is
impossible to use Kuhn's text to decide whether Marx and Schumpeter belong to
the same paradigm or whether they create different ones.
And if the confusion is already so great when dealing with the history of
science, what can be said about the transposition of the word 'paradigm' to the
field of economic history? What
exactly would the technological or techno-economic paradigms be?
After
comparing his 'technological paradigm' to Freeman and Perez's 'techno-economic
paradigm', Giovanni Dosi says the following:
“Whatever
name is chosen, the concept of ‘paradigm’ points to interpretations broadly
consistent with Rosenberg’s ‘focusing devices’(...) or Sahal’s
‘technological guide-posts’(...). The crucial hypothesis is that innovative
activities are strongly selective, finalised in rather precise
directions, often cumulative activities. (Dosi,1988:225)
Freeman
& Perez disagree with Dosi's observation.
Explaining the fourth category of their typology of innovations, they
say:
“We
use the expression ‘techno-economic’ (Perez,...) rather than
‘technological paradigm’ (Dosi,...) because the changes involved go beyond
engineering trajectories for specific product or process technologies and affect
the input cost structure and conditions of production and distribution
throughout the system. This fourth category corresponds to Nelson and Winter’s
concept of ‘general natural trajectories’ and, once established as the
dominant influence on engineers, designers and managers, becomes a
‘technological regime’ for several decades. From this it is evident that we
view Schumpeter’s long cycles and ‘creative gales of destruction’ as a
succession of ‘techno-economic paradigms’ associated with a
characteristic institutional framework, which, however, only emerges after a
painful process of structural change.” (Freeman & Perez,1988:47) (
emphasis mine, J.E.V.)
It
becomes clear, of course, that in Freeman-Perez evolutionism, the great
fluctuations of the capitalist dynamic are identified as techno-economic
paradigms, with the institutional pattern associated to each paradigm only
emerging after a painful process of structural change.
In this aspect, the difference in relation to Schumpeter is just
rhetoric. Freeman & Perez say
nothing about the nature of the formative process of these "techno-economic
paradigms"; while Schumpeter at least vaguely associated the formative
process of the "creative gales of destruction" to the initiative of
the entrepreneurial vanguard.
However,
one year prior to the publication of this work by Freeman & Perez, there
appeared an in-depth assessment of Schumpeter's basic ideas (Kleinknecht, 1987).
The main reference of this evaluation was the critique made by Kuznets
(1940) of the Schumpeterian theory of cycles (Schumpeter, 1939).
Particularly, the lack of a good theoretical explanation for the idea
that innovations do not emerge randomly, but rather are concentrated in certain
periods, that is, a spawning of innovations.
To Schumpeter, packages of innovations are generated by periodic
opportunities for heroic entrepreneurs. But
the phenomenon is not explained by any social-economic process.
It falls on the theory like a sort of deus ex machina. The
question was formulated then by Kleinknecht in the following form:
“Is there any evidence of a bunching of
Schumpeter’s heroic innovations (and if yes: what is the theoretical
explanation)?”
(Kleinknecht,1987:197)
In
some tentative conclusions, which the author presented in the final pages of his
book, there is no good answer to the second part of this question.
When giving a theoretical explanation, Kleinknecht is extremely eclectic,
appealing to various traditional Marxist approaches, such as Mandel and Gordon.
He does not provide any reasonable interpretation whatsoever for the
cause/effect relationship established by Schumpeter, according to which the
expansions and depressions are determined, without further appeal, by the
innovative potential of the entrepreneurial vanguard.
A
clear verification of this same theoretical vacuum was discussed in Rosenberg
& Frischtak's contribution to the collection edited by Freeman in 1986:
“In Schumpeter’s view, technological innovation
is at the centre of both cyclical instability and economic growth, with the
direction of causality moving clearly from fluctuations in innovation to
fluctuations in investment and from that to cycles in economic growth. Moreover,
Schumpeter sees innovations as clustering around certain points in time -
periods that he referred to as ‘neighbourhoods of equilibrium’, when
entrepreneurial perception of risk and returns warranted innovative commitments.
These clusterings, in turn, lead to long cycles by generating periods of
acceleration (and eventual decelaration) in aggregate growth rates. (...)
“Such causal links are not demonstrated in the neo-Schumpeterian literature.
(...) ... we are left without a precise knowledge of what are the necessary and
sufficient changes in the environment which, even conceptually, can bring out a
bandwagon-like diffusion of some number of basic innovations. In other words, there
is no well-specified set of elements that effectively link and elucidate the
direction of causality between the basic innovations, the ‘general level of
profitability and business expectations’, and their diffusion in the form of a
swarm of new products and processes. More generally, nowhere in the
literature is there to be found an unambiguous treatment of causality, within a
neo-Schumpeterian framework, which establishes the precedence of innovation
clusters over investment outlays and aggregate movements in the economy.”
(Rosenberg & Frischtak,1986:7-8) (Emphasis mine, J.E.V.)
The
least we can say is that the use of the idea of paradigm is very nebulous among
neo-Schumpeterian economists. And
it seems likely that the origin of this dense fog is in Thomas Kuhn's own
interpretation. After all, Kuhn's
work greatly contributes to the understanding of the logical process of the
advance of science, but adds little to the understanding of the social process. Despite referring often to the 'scientific community', he
never really gets as far as analyzing it, as did, for example, Katouzian (1980)
and Latour (1995). So, it is not
with Kuhn's help that we can find clarification as to the complex relationship
between technological and institutional changes.
More
recently, Kleinknecht was responsible for an introduction to the book that
gathered the contributions presented at the conference of Brussels, in January
1989 (Kleinknecht, Mandel & Wallerstein, 1992).
In this introduction he reiterates the hopes of a convergence born at the
workshop of 1986, in Siena, by Di Matteo, Goodwin & Vercelli (1989),
insisting that the neo-Schumpeterian and regulationist approaches tend to be
more and more complementary.
“It seemed for some time that these two approaches
were competing, but is now becoming increasingly clear that at least one common
link makes them rather compementary: the emphasis on the role of profit rates in
the long-wave process.” (Kleinknecht,1992:6)
Actually,
only one of the papers in this collection attempts, truly, to join
neo-Schumpeterians and Post-Marxists, or more precisely, evolutionists and
regulationists. In it, the French
regulationists Pierre Dockès and Bernard Rosier seek to establish the
theoretical links between innovations and conflicts.
They propose three
hypotheses ( rather, two hypotheses that generate one question):
>
Innovation - its complexity, origins, diffusion - cannot be completely
understood except as a part of the social structure.
>
In any 'divided' society the social arena is determined by multiple
internal conflicts that reflect profound diverging interests.
>
Given that the societies that interest us are full of conflicts inherent
to their modes of social interaction and recurrent due to innovation, can one
(innovation) be studied separately from the other (conflict)?
Taking
as a basis a set of research studies in economic history (Dockès, 1979; Dockès
& Rosier, 1988), they respond with a categorical no, because they perceive a
dialectical relationship between conflicts and great innovations. Not only are conflicts at the origin itself of the
innovations, but the innovations, mainly the greatest, beget or shift conflicts.
Hence, what is in question is not only the rhythm of the innovations and
the velocity with which they penetrate the social fabric, but, overall, the
content of the innovations itself.
Great
innovations can emerge as object and locus of many conflicts, not to mention as
outcomes of these struggles. They
will be, therefore, profoundly affected by these struggles.
Hence, Dockès & Rosier call this process the "social
imprint" on technologies.
The
conflicts that generate innovations do not necessarily occur in the area in
which they emerge. One of the main
characteristics of "Western" development, say the authors, has been
its capacity to transform social conflict into technical innovations. Ultimately, it is the entire web of conflict-ridden
relationships that must be taken into consideration.
The creation of a new social-economic paradigm should be seen, therefore,
as a vast innovation that emerges in the interior of the conflicting
conjuncture, from the emergence of various series of innovations (technical,
social, political, and cultural). (Dockès & Rosier, 1992:305-306)
We
are dealing, therefore, with a social process of innovation production from
various viewpoints. First, it is
necessary to distinguish the (economic) demand for innovations from the social
need for them. Second, it is
necessary to understand the role of each group in the social process that
generates innovation, that is, the process that puts the social imprint on the
innovation. Finally, it is
necessary to recognize that the modalities of regulation of the conflicts are
crucial to the force of the innovative tendencies, as well as to the types of
innovation. Social regulation of
the innovation is an essential part of the process of tolerance of the
conflicts. And it is precisely the
dialectical relationship between innovation and conflict that allows us to
distinguish long historical periods in which there is a certain order ( which
the authors call "productive order") and periods of 'disorder', that
is, of profound changes in the forms of operation of the economic system (which
the authors call "crises of transformation"). (Dockès & Rosier,
1992:306-307)
With
this schema, the authors intend to break with the very frequent tendency to
emphasize the technological changes and, in general, the economic factors, as
though the social factors played only a supporting role.
“In
our schema, social phenomena (including cultural and political phenomena) are
seen as strategic. It is enough simply to argue the necessity of social change
in order that technical change occurs, as do Gerhard Mensch (1975) or
Christopher Freeman (1979). Rather, social changes are the very core of the
process of transformation; hence the dialetic of innovation and conflict plays a
key role.” (Dockès & Rosier,1992:308-309)
It
is very difficult to evaluate to what degree the schema proposed by Dockès
& Rosier can drive a convergence between evolutionists and regulationists. But it would not be too risky to say that it focuses well on
the impasses of the two lines of thought by emphasizing the dialectic between
innovation and conflict. The
principal insufficiency of evolutionism is a lack in addressing the causal
relationship that would exist between the emergence of a handful of
"heroic" technological innovations and the phases of expansion of
capitalism. On the other hand, the
main insufficiency of regulationism is a lack in addressing the causal
relationship that would exist between these phases of expansion of capitalism
and the emergence of a handful of additionally "heroic" institutional
innovations. Accepting the
existence of a dialectical relationship between innovation and conflict is not
enough in order for these insufficiencies to be overcome, but it seems like a
good beginning. A common agenda for
these two lines may perhaps be established from this suggestion.
4.
Conclusion
It
would be wrong to state that the methodological parallelism existent between
Marx and Schumpeter does not occur between the evolutionist and regulationist
projects just because the former was initially more directed towards
microeconomic formalization. It is
true that the proposal to integrate theory and history is more diffused among
the regulationists. But various
contributions have demonstrated the same interest on the part of evolutionists.
What
most distinguishes the evolutionist and regulationist projects
are their respective emphases on innovations and institutions.
For the former, the periods of expansion are linked to the introduction
and diffusion of important inventions, while depressions are periods of
transition between two technological regimes.
For the latter, the rate of accumulation is not essentially determined by
technological progress, but rather depends crucially on the institutions that
allow the capitalists to exercise power.
It
could seem that the convergence of the two lines of thought
would pass through the development of the idea of a "techno-economic
paradigm", initially formulated by Carlota Perez.
However, besides being very
ambiguous, the word paradigm does not resolve the basic problems of the
Schumpeterian approach, which are, basically, to give reasonable explanations
for the temporal concentration of the great innovations and for the causal
direction of these basic innovations, the rentability expectations, and their
diffusion in the form of a swarm of products and processes.
The
main insufficiency of evolutionism is precisely in this want in addressing the
causal relationship that would exist between the emergence of a handful of
"heroic" technological innovations
and the phases of the spread of capitalism.
On the other hand, the main insufficiency of regulationism is its
deficiency in addressing the causal relationship that would exist between these
phases of the spread of capitalism and the emergence of a handful of also
"heroic" institutional innovations.
There
is no way to separate innovations from conflicts.
The research on economic history developed by Pierre Dockès and Bernard
Rosier suggests the existence of a dialectical relationship between conflicts
and great innovations. Not only are
conflicts at the core of innovations, but
innovations, in particular the great ones, generate or shift conflicts.
So, what is in question is not only the rhythm of the innovations and the
velocity with which they penetrate the social fabric, but, overall, the content
of the innovations itself.
Accepting
the existence of this dialectical relationship between innovation and conflict
is not enough in order for the insufficiencies of the two lines of thought to be
overcome, but it is a good start. A
common agenda for the two lines can possibly be established from this
suggestion.
As
for the rest, the Dockès-Rosier schema may be useful in the discussions of the
prognoses of the next long wave of capitalism.
The presence of Schumpeter's ideas is so strong in this debate that the
analyses only differ in the way they illustrate the role of computer science,
emphasizing more the role of microelectronics in telecommunications or robotics.
In some cases, obviously, the potential of biotechnologies or biogenetics
is added. But it goes no further.
It is unanimous that the "new paradigm" is information
technology (IT). And the
differences must be found in the sectors in which this "new paradigm"
is already more apparent.
To
perceive a dialectical relationship between innovation and conflict necessarily
implies raising doubts about this 'Schumpeterian unanimity'. Not in denying the
role of IT as a crucial instrument of a possible (and likely) new capitalist
expansion. But in working with the
hypothesis that the great changes do not occur precisely in the industrial
sectors mentioned, but in areas that are socially much more full of conflict,
such as energy, agrifood, environment, and overall, unemployment. In other words, it is not forbidden to think that the true
point of mutation will only be recognized when the great problems of our era
begin to be overcome through the application of computer science[5].
ANNEX 1 - ANNALS
OF THE WORKSHOP OF SIENA, 1986 (Introduction)
“The neo-Schumpeterian position views long cycles
as the result of the introduction and diffusion of major inovations. There is a
wide range of positions under this label and the assumed relationships between
technical change and long term fluctuations differ in many important details
from Schumpeter’s original account. However this approach still retains a
decisive link between the evolution of the technology and the evolution of the
economic system.
“The thread of the argument in the
neo-Schumpeterian approach can be reduced to the following. The main source of
fluctuations is the pattern of investment that in turn depends on oscillations
of expected profitability. The latter is heavily affected by technical
innovation as well as population growth, consumer tastes, etc. Therefore major
periods of expansions are associated with the introduction and diffusion of
important inventions whereas periods of profound depression are periods of
adjustment from one technological regime to another.
“Another important feature is the recognition given
to the monetary and financial sector that has to be permissive enough in the
upswings to provide an adequate level of funds to innnovative firms. Finally a
connection between various kinds of inventions and different cycles is often
detected and this is in a strict Schumpeterian fashion.
“It is more difficult to synthetize the second
approach that stresses the so-called social structure of accumulation. However a
common feature is the belief that the rate of accumulation is not essentially
determined by the rate of technical progress but depends crucially on the
institutional set-up of the society.
“For example the rate of profit which is the prime
mover of the rate of accumulation is high whenever in the society (either by
legislative action or by mutual agreement) there are institutions that guarantee
the full exercise of the power by the capitalists. The mix of individual
institutions that can do that varies from country to country and from one
historical period to another.
“So, according to Bowles, Gordon and others, in the
USA (...). Boyer and others of the French ‘regulation school’ work on
similar lines and have also tackled the question of explanation for other
countries and historical periods.
“It seems clear to us that the two approaches are
not mutually exclusive and that an open discussion of each of the constituent
elements of both models would be extremely interesting and helpful for the
construction of a more comprehensive theory of the dynamic behaviour of a
capitalist economy.” (Di Matteo, Goodwin & Vercelli, 1989:v-vi)
AGLIETTA,
Michel (1976) Régulation
et Crises du Capitalisme, Paris: Calmann-Levy
ANDERSEN,
Esben Sloth (1994) Evolutionary Economics; Post-Schumpeterian Constributions,
London: Pinter Publishers
BOYER,
Robert (1986) La Théorie de la régulation: une analyse critique. Paris: La
Decouverte
BOYER,
Robert (1988a) “Technical Change and the theory of ‘régulation’ ”
in: DOSI, Giovanni, Christopher Freeman, Richard Nelson, Gerald
Silverberg & Luc Soete (1988) Technical Change and Economic
Theory, London: Pinter, pp:67-94
BOYER,
Robert (1988b) “Formalizing growth regimes” in: DOSI, Giovanni, Christopher
Freeman, Richard Nelson, Gerald Silverberg & Luc Soete (1988) Technical
Change and Economic Theory, London: Pinter, pp:608-630
DI
MATTEO, Massimo, Richard M.Goodwin
& Alessandro Vercelli (eds) (1989) Technological
and Social Factors in Long Term Fluctuations, Proceedings of an
International Workshop Held in Siena, Italy, December 16-18, 1986, Berlin:
Springer-Verlag
DOCKÈS,
Pierre (1979) La Libération Médiévale, Paris: Flammarion ( English
translation: (1982) Medieval Slavery and Liberation, Chicago: The University of
Chicago Press)
DOCKÈS,
Pierre & Bernard Rosier (1992) L’Histoire
Ambigüe: Croissance et Développement en Question, Paris: Presses
Universitaires de France.
DOCKÈS,
Pierre & Bernard Rosier (1992) “Long Waves: the Dialetic of Innovations
and Conflicts” in: KLEINKNECHT, Alfred, Ernest Mandel & Immanuel
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[1] For a good definition of 'political economy' see Katouzian (1980:178-183).
[2] See the article by Tamás SZMRECSÁNYI (1992) "História Econômica, teoria econômica e economia aplicada." Revista e Economia Política, v.12, n.3 (47) July- September.
[3] Due to the importance of this synthesis, it is almost entirely transcribed in Annex 1.
[4] According to Freeman (1988:10), the notion of "techno-economic paradigm" created by Carlota Perez is much closer to the ideas of technological "regime" or "trajectory" of Nelson & Winter, than to the notion of "technological paradigm" of Dosi et al. "Most importantly, her concept is one of a 'meta-paradigm - a dominant technological style whose 'common sense' and rules of thumb affect the entire economy."
[5] Prognoses that emphasize these four areas (energy, food, environment, and unemployment) are rare. A brilliant exception is the article "Innovation and Long-Term Growth" by George F. Ray (1983).