Found 10 article(s) for author 'Peter Hall'

The Rise of Opportunity Markets: How Did It Happen & What Can We Do?

The Rise of Opportunity Markets: How Did It Happen & What Can We Do? Peter Hall, June 28, 2019, Paper, “We describe the rise of “opportunity markets” that allow well-off parents to buy opportunity for their children. Although parents cannot directly buy a middle-class outcome for their children, they can buy opportunity indirectly through advantaged access to the schools, neighborhoods, and information that create merit and raise the probability of a middle-class outcome. The rise of opportunity markets happened so gradually that the country has seemingly forgotten that opportunity was not always sold on the market. If the United States were to recommit to equalizing opportunities, this could be pursued by dismantling opportunity markets, by providing low-income parents with the means to participate in them, or by allocating educational opportunities via separate competitions among parents of similar means. The latter approach, which we focus upon here, would not require mobilizing support for a massive redistributive project.Link

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From Keynesianism to the knowledge economy: the rise and fall of growth regimes

From Keynesianism to the knowledge economy: the rise and fall of growth regimes. Peter Hall, December 10, 2018, Paper, “This essay explores the evolution of postwar growth regimes, understood as the economic and social policies used by governments to pursue economic growth in the developed democracies. It charts movement in growth regimes from an era of modernization stretching from 1950 to 1975, through an era of liberalization running from 1980 to the late 1990s, to a subsequent era of knowledge-based growth. It argues that the capacities of democratic governments to pursue specific growth regimes depend, not only on economic circumstances, but also on evolving electoral conditions, marked especially by changes in the cleavage structures conditioning partisan electoral strategies. The essay concludes by exploring the implications of contemporary electoral politics for the development of growth regimes appropriate to a knowledge economy.Link

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The Electoral Politics of Growth Regimes

The Electoral Politics of Growth Regimes. Peter Hall, May 17, 2018, Paper, “This paper explores the role of electoral politics in the evolution of postwar growth regimes, understood as the sets of socioeconomic policies that governments adopt in order to pursue economic growth. It charts changes in those growth regimes in the developed democracies across four eras: one of modernization, running from 1950 to 1970, a turbulent interregnum during the 1970s, an era of liberalization from the early 1980s through the end of the century, and a subsequent era of insecurity. I argue that growth regimes respond, not only to changing economic circumstances, but also to specific electoral circumstances. The overarching claim is that the inclination and capacities of democratic governments to pursue distinctive growth regimes depend on the evolution of electoral cleavages and how they condition partisan electoral competition.Link

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The Politics of Social Status: Economic and Cultural Roots of the Populist Right

The Politics of Social Status: Economic and Cultural Roots of the Populist Right. Peter Hall, July 30, 2017, Paper, “This paper explores the factors that have recently increased support for candidates and causes of the populist right across the developed democracies, especially among a core group of working-class men. In the context of debates about whether the key causal factors are economic or cultural, we contend that an effective analysis must rest on understanding how economic and cultural developments interact to generate support for populism. We suggest that one way to do so is to see status anxiety as a proximate factor inducing support for populism, and economic and cultural developments as factors that combine to precipitate such anxiety.Link

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Varieties of Capitalism in Light of the Euro Crisis

Varieties of Capitalism in Light of the Euro Crisis. Peter Hall, August 2016, Paper, “The Euro crisis began, at least in symbolic terms, on November 5, 2009 when a new Prime Minister announced that the Greek budget deficit would be 12.7 percent of GDP, more than three times the amount projected for that year by the outgoing government. This sparked a crisis of confidence in sovereign debt and European banks that forced Greece, Ireland, Portugal, Spain and Cyprus into torturous negotiations with the European Union, followed by bail-out programs that imposed various combinations of fiscal austerity and structural reform on them. Almost seven years later, the effects of the crisis are still palpable. The Greek economy has lost a quarter of its value; levels of unemployment are close to 20 percent in parts of southern Europe; and the average level of economic activity in the Eurozone as a whole has only now regained its level before the global financial crisis of 2008-09.Link

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The Changing Role of the State in Liberal Market Economies

The Changing Role of the State in Liberal Market Economies. Peter A. Hall, 2015, Book Chapter.  “This chapter reviews the principal developments affecting the states that preside over liberal market economies in the decades since World War II. After considering the perspectives offered by modernization, neocorporatist, and varieties of capitalism literatures on the liberal state, it reviews the relatively interventionist policies of a Keynesian era running into the 1970s. It summarizes the principal reforms of the neoliberal era that began in the 1980s, arguing that neoliberal discourse undermined the authority of the state, while policies based on privatization...” Link

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Social Policy-Making for the Long Term

Social Policy-Making for the Long Term. Peter A. Hall, April 2015, Paper. “Dismantling the Welfare State is a classic work, as fresh and stimulating today as when it was first written. Many of the insights in it are central to the study of policy making today. One is the core thesis, stated on the opening page, that ‘retrenchment is a distinctive and difficult political enterprise…in no sense a simple mirror image of welfare state expansion.’ Paul Pierson was the fi rst scholar to show that theories about how welfare states were built are inadequate for understanding the politics of how they were sustained or reformed in the context of lower growth rates during the 1980s and 1990s. For that purpose, we need a new analysis of the ‘politics of retrenchment’ that the book provides…” Link

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Social Policy-Making for the Long Term

Social Policy-Making for the Long Term. Peter A. Hall, April 2015, Opinion. “Dismantling the Welfare State is a classic work, as fresh and stimulating today as when it was first written. Many of the insights in it are central to the study of policy making today. One is the core thesis, stated on the opening page, that ‘retrenchment is a distinctive and difficult political enterprise…in no sense a simple mirror image of welfare state expansion.’ Paul Pierson was the first scholar to show that theories about how welfare states were built are inadequate…” Link

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How Political Economies Change: The Evolution of Growth Regimes in the Developed Democracies

How Political Economies Change: The Evolution of Growth Regimes in the Developed Democracies. Peter A. Hall, March 2015, Paper. “This paper characterizes and explains the evolution of growth regimes in the developed democracies, understood as the public policies and firm strategies used to secure economic growth, with an emphasis on government policy in the decades after 1950. The argument is that growth regimes change in response to political as well as economic challenges. I identify three significant shifts in economic challenges associated with eras of modernization, liberalization and knowledgebased growth…” Link

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Varieties of Capitalism and the Euro Crisis

Varieties of Capitalism and the Euro Crisis, Peter A. Hall, November 2014, Paper, This article examines the role played by varieties of capitalism in the euro crisis, considering the origins of the crisis, its progression, and the response to it. Deficiencies in the institutional arrangements governing the single currency are linked to economic doctrines of the 1990s. The roots of the crisis are linked to institutional asymmetries between political economies. Northern European economies equipped to operate export-led growth models suitable for success within a monetary union are joined to southern economies whose demand-led growth models were difficult to operate successfully without the capacity to devalue. The response to a tripartite crisis of confidence, debt, and growth is explained in terms of the interaction of institutions, interests, and ideas, and its importance for the future of European integration is exploredLink

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