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Social Democracy Going Down or Down Under: Institutions, Internationalized Capital, and Indebted States

Herman Schwartz
Comparative Politics
Vol. 30, No. 3 (Apr., 1998), pp. 253-272
DOI: 10.2307/421986
Stable URL: http://www.jstor.org/stable/421986
Page Count: 20
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Social Democracy Going Down or Down Under: Institutions, Internationalized Capital, and Indebted States
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Abstract

Internationalization of goods producing capital and rising public debt have undermined the institutional preconditions—a unified labor movement, corporatism, and a universal welfare state—for the class compromises of European-style social democracy. Australia's labor movement has faced these problems longer and has developed institutions in response to them. High minimum, juridically set wages help overcome tensions between unions while protecting the wage share of national income, and the largely privatized and residual welfare system is resilient in the face of public debt. Australia's experience suggests that Fritz Scharpf's call for "socialism within one class" is a plausible response to internationalization and debt.

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