Extends work on U.S. rate of profit by T. E. Weisskopf (1979). Firstly the author finds, by extending Weisskopf's data into the early 1980s, that continued downward pressure on profitability i s explained by capacity utilization, in contrast to Weisskopf's explanation of rising labor share....

This paper argues that the mainstream literature on corporatism focuses too narrowly on the relationship between corporatism and the labor market. It adopts a broader political economy perspective to argue that corporatist arrangements impart macroeconomic stability through the resolution of...