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This essay surveys economic thought in Britain and the United States to assess the influence that economists have had on developments in the marketplace and in government (and also to show reverse causation; economic thinking is less free of historical circumstances than economists appreciate). Next it examines whether recent Anglo-American developments are reproducing themselves in other parts of the world, that is, whether we see synchronous swings from status to contract in continental Europe and Japan. Finally, the essay asks what the future holds in store for labor and employment policy: will we see a continued pulsing of Polanyi's double movement or a triumph of the liberal Anglo-American model?
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... Also, as used in this chapter " Wisconsin " and " Chicago " are best regarded as metaphors or allegorical symbols for two broader constructs, IEIR and FL&EM on one hand and NE and SL&EM on the other, that now extend far beyond their original home bases. The qualifier " in the USA " is also important since the IEIR and NE traditions discussed here, along with their parallel labor law traditions, are in a number of respects distinctively American products (Jacoby 2005). Finally, the term " labor law " is used in the expansive sense of covering collective and individual dimensions, the latter sometimes separately distinguished as employment law. ...
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