Capitalism needs a new social contract
Shafik, M.
(2021).
Capitalism needs a new social contract.
Oxford Review of Economic Policy,
37(4), 758 – 772.
https://doi.org/10.1093/oxrep/grab032
Capitalism needs a new social contract to better manage the consequences of technology and an increasingly diverse and flexible workforce. That social contract should retain the benefits of flexibility but do a better job of providing security in the form of mandatory benefits, putting a floor on incomes, and investing far more in helping workers adapt to economic shocks and rising automation. It also means a new deal with business that would achieve a more level playing field in how capital and labour are taxed.
