Franscisco Louca
The paper investigates the conditions for long downturn after the general crises
of 1973-4 and 1982. The mismatch between the socio-institutional system and the
techno-economic paradigm is one explanation for this long wave of depression,
which emphasises the role of the education system, professional training and
definition of skills, contracts and institutions in general. The evolution of
the rate of profit and rate of accumulation for the last years is also
highlighted as a demonstration of the nature of the mismatch.
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