1970s crises moved business elites to prioritize capital liquidity over employment stability

Evidence

The result of this business insurgency was a new neoliberal order in which market logics increasingly replace social contracts, and the liquidity of capital is prioritized over long-term employment stability. — Ken-Hou Lin & Donald Tomaskovic-Devey, Financialization and U.S. Income…, 39

Categorization

• XREF: connects to: US financialization emerged from state responses to 1970s governance crises. — Gerald F. Davis & Suntae Kim, Financialization of the Economy, 32; Financialization accelerated through 1970s-80s deregulation and state support — Andrew deWaard, Derivative Media: How Wall Street…, 488; Financial crises serve capital by enabling restructuring and reclaiming working-class gains — Max Haiven, Cultures of Financialization, 498 (+4 more)

Related

• US financialization emerged from state responses to 1970s governance crises. (similarity 0.85)
• Post-1970s fiscal crisis forced states to choose between workers and capital. (similarity 0.84)
• A post-1971 force shifted capitalist power from industry to finance. (similarity 0.83)
• The US economy became increasingly financialized in the post-1970s period. (similarity 0.82)
• Financial crises serve capital by enabling restructuring and reclaiming working-class gains (similarity 0.80)
• Financialization accelerated through 1970s-80s deregulation and state support (similarity 0.80)
• The 1970s shift toward flexible labor and asset-price growth set up the platform era. (similarity 0.80)
• Financial markets reshaped households, corporations, and states over the past 30 years. (similarity 0.79)

Broader Connections

• US financialization emerged from state responses to 1970s governance crises. #corroborates (0.88) — Gerald F. Davis & Suntae Kim, Financialization of the Economy, 32
• Financialization accelerated through 1970s-80s deregulation and state support #expands (0.85) — Andrew deWaard, Derivative Media, 488
• Financial crises serve capital by enabling restructuring and reclaiming working-class gains #expands (0.78) — Max Haiven, Cultures of Financialization, 498
• The 1973 crisis began a new capitalism immune to state steering and proletarian challenge #corroborates (0.75) — Martin Jay, The Dialectical Imagination, 18