ABSTRACT
In the late 1960s the Golden Age of Capitalism or what French historians have termed 'the thirty glorious years'—a period characterized by continuous and unprecedented rates of rapid growth in world output of marketed social production—came to an end. Among other things it has dramatically shortened and transformed the communication and transportation circuits of capitalist production, creating the preconditions for a new more flexible form of production based on a new regime of accumulation and corresponding mode of regulation. The only preventative remedy for avoiding this trend—for participating in this projected dynamic of rising incomes, better working conditions and enhanced job securit—is for all countries to systematically pursue the right domestic policies, sound labour policies that promote demanding-demanding growth, and 'good governance'. The effective response to requirements—and the solution to the underlying and associated—is labour market reform designed for greater flexibility.
