The Fordist regime collapsed with the 1973 recession
Evidence
But in spite of all the discontents and all the manifest tensions, the centrepieces of the Fordist regime held firm at least until 1973, and in the process did indeed manage to keep a postwar boom intact that favoured unionized labour, and to some degree spread the ‘benefits’ of mass production and consumption even further afield. Material living standards rose for the mass of the population in the advanced capitalist countries, and a relatively stable environment for corporate profits prevailed. It was not until the sharp recession of 1973 shattered that framework that a process of rapid, and as yet not well understood, transition in the regime of accumulation began. — David Harvey, The Condition of Postmodernity, 847
Categorization
- XREF: The 1973 crisis point connects directly to the rival economic-periodization comparison the reader is building; this is the break date the whole argument hangs on. — connects to: The 1973 crisis began a new capitalism immune to state steering and proletarian challenge — Martin Jay, The Dialectical Imagination: A History…, 18; The 1973 recession undermined Fordism and birthed a new accumulation regime — David Harvey, The Condition of Postmodernity: An…, 864; Loose monetary policy plus oil shocks triggered the 1973 economic crisis — David Harvey, The Condition of Postmodernity: An…, 861 (+6 more)
Broader Connections
- Loose monetary policy plus oil shocks triggered the 1973 economic crisis
#expands(0.90) — David Harvey, The Condition of Postmodernity, 861 - US financial-military hegemony structured the postwar Fordist world economy
#qualifies(0.75) — David Harvey, The Condition of Postmodernity, 825 - Monetary austerity deliberately induced recession to discipline workers.
#complicates(0.75) — Clara E. Mattei, Escape from Capitalism, 154 - Post-recession culture collapsed further into commerce rather than reimagining society
#expands(0.75)