chapter  3
19 Pages

A Global Neoliberal Social Structure of Accumulation?

According to adherents of the social structure of accumulation (SSA) approach to political economy, sustainable long-term growth and accumulation requires a set of suitable structures for promoting public goods or system-functions that transcend market or individual activities. These system-functions are carried out, according to Martin Wolfson (1994), primarily through institutions that promote social stability, conflict resolution, and long-term profitability. In his original formulation of the SSA theory, David Gordon (1980) recognized that a large number of institutions are necessary for sustainable growth, including systems of transport, industrial relations, finance, family formation, material resource supply, infrastructure, labor supply, and government. The social requirements for sustained accumulation are multifarious and complex, necessitating widespread structures promoting productivity and demand.