Political Sociology: State and Economy

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Paradox

that deregulation of the economy leads to high levels of social inequality and

therefore leads to a strong state.

Neoliberalism:

Neoliberals

reject inherent weakness of capitalism – blaming:

· Keynesian economic

management

· Increased welfare

spending

· Unions corporatism

https://www.youtube.com/watch?v=d0nERTFo-Sk (Incorporar)

Freidrich Hayek 1899-1992 The Road to Serfdom (1943)- Argues against government intervention in the economy

JM Keynes 1883-1946 The General Theory of Employment, Interest and Money (1936) - Argues in favour of government spending to stimulate the economy