Flexible Specialization, Supply-Side Institutionalism, and the Nature of Work Systems
Author(s)
Marshall, M. G.
Abstract
The emergence of neoclassical supply-side approach in social economics did not only create a new meaning for institutional flexibility, but also led to the adoption of novel public policy strategies. Under the neoclassical theory, the concept of flexibility centers on the removal of all known rigidities that undermine one’s capacity to respond to market stimuli. The neoclassical approach further supports the implementation of public policies that are geared towards optimizing job training, enhancing of employee participation and encouraging interfirm cooperation.
