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Flexicurity Capitalism - Foundations, Problems, and Perspectives (Hardcover)
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Flexicurity Capitalism - Foundations, Problems, and Perspectives (Hardcover)
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An intense debate has played out in recent years regarding how to
implement a so-called "flexicurity system"-a labor market reform
that combines flexibility, particularly in the hiring and firing
process of firms, with security in the employment and income of the
workforce. In Flexicurity Capitalism, Flaschel and Greiner lay out
the macroeconomic structure of this system, providing the detailed
mathematical models necessary to ponder seriously how such a system
can work. Their book rests on three pillars of thought: Marx,
Kalecki-Keynes, and Schumpeter. The authors highlight the relevant
contributions from the work of each and build upon it. They in turn
provide a basic framework for flexicurity capitalism and then
compare their economic system to pure capitalism to determine the
best and most practical way forward. Their scope is ambitious: to
address the shortcomings of a narrow focus on mass unemployment,
selective-schooling systems, property rights based solely on
ownership without qualified business decision-making expertise,
financial markets that do not of channel savings properly into real
investment, and innovations that ignore human rights or moral
sentiments. Flaschel and Greiner's Flexicurity Capitalism provides
serious discussion and feasible mathematical models necessary to
consider moving in this direction.
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