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2022 | OriginalPaper | Buchkapitel

7. The Business Roundtable and the End of Managerialism

verfasst von : Stephen Maher

Erschienen in: Corporate Capitalism and the Integral State

Verlag: Springer International Publishing

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Abstract

This chapter shows how the emergence of the Business Roundtable was rooted in state efforts to address the 1970s crisis. As the crisis of the 1970s dragged on, Nixon, Ford, and Carter implemented a series of wage and price control regimes to restrain wage growth while devising a more permanent strategy for disciplining labor. Yet a plan to do so was forthcoming from neither the state nor business. In this context, new policy planning capacities were rapidly built within and around the state economic apparatus. Connected to these was the Business Roundtable, formed in 1972 with the support of the Treasury Department and the Federal Reserve. While the BR sought to defend non-financial managers from rising investor power, the state’s ability to organize an “unstable equilibrium of compromise” between these fractions was a key factor in enabling the empowerment of finance through the neoliberal restructuring that would follow.

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Vorheriges Kapitel The Financialization and Internationalization of General Electric

Nächstes Kapitel From Capital Controls to Free Trade: The Making of the Internationalized Neoliberal State

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Waterhouse, Lobbying America, 77.

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Peter Flanigan, “‘Meetings with Business Leaders,’ Memorandum for Secretaries Shultz, Schlesinger, Weinberger, Butz, Lynn, General Haig, Melvin Laird, Herbert Stein, Roy Ash, John Love, John Dunlop, William Casey, Paul Volcker,” November 21, 1973, Record Group 489, Entry UD-WW, Box #4.

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Watson and Kirschenbaum, “Memorandum for the President,” July 3, 1978.

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“Business Roundtable Report,” October 1978.

Jane Campana, “Advisory Committees: Procedures–Pros and Cons,” January 26, 1979, Record Group 429, Entry A1 1025, Box #1, National Archives College Park, MD.

“Business Roundtable Report,” February 1979.

Alfred Kahn, “Modifications in the Price Program,” March 28, 1979, Record Group 429, Entry A1 1025, Box #13, National Archives College Park, MD.

Jimmy Carter, “Talking Points for the President – After the Press Leaves,” March 29, 1979, Record Group 429, Entry A1 1025, Box #13, National Archives College Park, MD. Emphasis in text.

W. Michael Blumenthal, “Memorandum for the President Re: Monetary Policy and Consumer Credit Creation,” March 30, 1979, Record Group 429, Entry A1 1025, Box #14, National Archives College Park, MD.

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100

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101

Bradley Graham, “‘Blockbuster’ Inflation Plan Urged by GE Head,” The Washington Post, April 26, 1979; Jerry Flint, “Why Shoot the Piano Player?,” Forbes, July 9, 1979.

102

“Business Roundtable Comments and Recommendations on the Voluntary Pay Standard,” July 24, 1979, Record Group 429, Entry A1 1025, Box #15, National Archives College Park, MD.

103

Alfred Kahn, “Alfred Kahn to Donald Seibert,” July 31, 1979, Record Group 429, Entry A1 1025, Box #15, National Archives College Park, MD.

104

John C. Read, “NAM Recommendations for the Development of the Second Year Voluntary Wage/Price Standards,” August 3, 1979, Record Group 429, Entry A1 1025, Box #15, National Archives College Park, MD.

105

Panitch and Gindin, The Making of Global Capitalism, 167–68.

106

Panitch and Gindin, The Making of Global Capitalism, 163.

107

Merrill Brown, “Why Are All These National Businessmen Smiling?,” The Washington Post, October 15, 1979.

108

“Business Roundtable Report,” March 1980.

109

“Business Roundtable Report,” April 1980.

110

“Business Roundtable Report,” March 1980.

111

“Business Roundtable Report,” June 1980.

112

“Business Roundtable Report,” October 1977.

113

“Business Roundtable Report,” September 1978; “Business Roundtable Report,” October 1978; “Business Roundtable Report,” December 1978; “Business Roundtable Report,” August 1979; “Business Roundtable Report,” December 1979; “Business Roundtable Report,” August 1977.

114

“Business Roundtable Report,” January 1978.

115

Steele et al., “Picking Up the Pieces.”

116

“Business Roundtable Report,” June 1980.

117

Panitch and Gindin, The Making of Global Capitalism, 168.

118