By Torben Iversen

In response to the most important concept that social security in a contemporary economic climate, either in and out the country, could be understood as safeguard of particular investments in human capital, Torben Iversen bargains a scientific rationalization of renowned personal tastes for redistributive spending, the industrial position of political events and electoral structures, and hard work marketplace stratification (including gender inequality). opposite to the preferred concept that festival within the international financial system undermines foreign alterations within the point of social safeguard, Iversen argues that those changes are literally made attainable by way of a excessive foreign department of labor.

positive factors

• bargains a complete political financial system method of the learn of the welfare kingdom and inequality
• Auitable for educating either complicated undergraduate and graduate courses
• Mixes methodologies (mathematical modeling, econometrics, and case-oriented research) and increases new questions about social coverage and globalization

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Extra info for Capitalism, Democracy, and Welfare (Cambridge Studies in Comparative Politics)

Sample text

The book demonstrates that to a substantial extent social protection in a modern economy, both inside and outside the state, can be understood as protection of specific investments by both workers and firms in human capital. It then shows that such an understanding provides a systematic explanation for popular preferences for redistributive spending, the economic role of political parties and electoral systems, and labor market stratification (including gender inequality). In doing so, it helps resolve the debate between power resources theory and recent work on employers and the welfare state by systemically linking demand for redistribution and demand for social insurance and by tying social protection to the way firms compete in the international economy.

Although the chapter will discuss causal mechanisms, the main purpose is to put some empirical meat on the conceptual bones presented in Chapter 1. I will provide the reader with a range of background information, and I will show some striking interconnections between skill systems, social protection, and political institutions that cry out for explanation. Building on a joint paper with Barry Eichengreen, I argue that these interconnections metamorphosed into very distinct regime clusters in response to the challenges of postwar reconstruction and international economic integration, and each cluster is associated with distinct economic advantages that are reinforced through the international division of labor.

But Chapter 4 argues that partisanship is determined by the differences in coalitional dynamics resulting from differences in electoral systems. 2. 75 Note: Excludes centrist governments and PR cases with single-party majority governments. Source: Cusack and Engelhardt (2002) and Cusack and Fuchs (2002). xml CY548-Iversen 0 521 84861 X May 26, 2005 16:20 A Political Economy Approach to the Welfare State and Cusack and Fuchs (2002). The figures are the total number of years with right- and left-leaning governments in seventeen advanced democracies between 1945 and 1998.

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