Political Economy Quarterly

2025, v.4;No.12(03) 176-200

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The "Regulation School" and the "Classics" :Modes of Accumulation and Modes of Regulation in a Classical Model of Economic Growth

FAGERBERG Jan;HE Yanxi;WANG Yujie;YANG Hanxi;

Abstract:

This text provides a simple mathematical formalization(one sector long-term growth models) for some insights of the “regulation school”. Specifications are given on the nature of technical change and on the form of regulation of real wage, and three models are studied(competitive regulation with constant technological level, competitive regulation with “taylorist” methods of production, monopolistic regulation with “taylorist” and “fordist” methods of production). These models suggest that, if monopolistic regulation provided an answer to tendancies towards “keynesian crisis” entailed by taylorist methods of production, on the contrary it can not reverse the tendancy towards a fall in profitability(“classical crisis”) entailed by the generalization of fordism.

Key Words: mode of regulation;mode of accumulation;economic growth;crisis theory

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Authors: FAGERBERG Jan;HE Yanxi;WANG Yujie;YANG Hanxi;

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