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Sebastian Dullien, Hansjörg Herr and Christian Kellermann
Der Gute Kapitalismus... und was sich dafür nach der Krise ändern müsste (with a foreword by Gesine Schwan)
Bielefeld: Transcript Verlag
Abstract
Good Capitalism. What Needs to Change after the Crisis
Sebastian Dullien, Hansjörg Herr and Christian Kellermann
The crisis has shown how fine the line is which separates financial capitalism and the economic abyss. The crisis generated by the excessive freedom opened up by a global market compelled governments to bail out the financial sector around the world. For over 10 years, neoliberal recipes were concocted by governments which believed in a 'third way', ushering in market-oriented reforms, especially in the financial and labour markets. Today, this ideology is coming apart at the seams and it appears inevitable that political actors will opt for more state, more regulation and more control over financial markets. However, there is no consistent concept to hand which embraces every dimension of a functioning and sustainable economic model of the future. What would such a model look like and how could capitalism actually be made 'good', in the sense of benefitting everyone in society? The authors present a series of key changes which would yield an economic model that unleashes the potential of markets, while minimising their associated risks. The model rests on four pillars: (i) banks and the financial system, (ii) wages and labour markets, (iii) the public sector and (iv) 'the world' (global governance).
Kellermann, Christian, Marius Busemeyer et al. (2008):
Social Democratic Perspectives on the European Economic and Social Model: Distributional and Institutional Conflicts,
in: International Journal of Public Policy, Vol. 3, Issue 1/2, pp. 39–57.
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Kellermann, Christian, Marius Busemeyer et al. (2008):
Overstretching Solidarity?
Trade Unions' National Perspectives and the European Economic and Social Model, in: Transfer (3).
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Kellermann, Christian (2006):
Die Organisation des Washington Consensus.
Der Internationale Währungsfonds und seine Rolle in der internationalen Finanzarchitektur,
Bielefeld: Transcript Verlag.
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Kellermann, Christian (2005): Disentangling Deutschland AG,
in: Stefan Beck, Frank Klobes and Christoph Scherrer (eds),
in: Surviving Globalization? Perspectives for the German Economic Model,
New York: Springer: 111–32.
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