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In the period since 1945, there has been in Western Europe (Jessop, 1982 : 237-8) : a further shift in the forms of state intervention with growing importance attached to the role of direction mediated through concertation and/or imposed from above . In particular it is no longer always in the power of individual capitals acting alone or in concert at the meso-level to mobilise the resources necessary to ensure capital accumulation, and it is necessary for the state to supplement the activities of `real collective capitalists' at the meso-level with macro-level facilitation, support and direction .

5. See Spence (1985), who emphasises the degree of internationalisation of British Capitalism . 6. For data on the multinationals in the British economy see Fine (1985), Teague (1985), Department of Trade and Industry (1983) . , Smith, R . et al (1981) Political Economy of British Capitalism, McGraw Hill . Aglietta, M . (1979) A Theory of Capitalist Regulation, New Left Books . Alavi, H . (1972) `The State in Post Colonial Societies : Pakistan and Bangladesh', New Left Review no . 74 . Ambursley, F .

Frequently, dominant groups felt that populist experiments such as those implemented by Peron, Vargas or Velasco had created rising expectations among the working class and that these expectations could not be controlled by the existing populist government . Contradictions between capital and the populace could not be neutralised through the offices of a charismatic leader ; rather, the contradictions had to be sharpened, and hegemonic power over the population re-established . This was most easily achieved by bureaucratic authoritarian regimes of the type that emerged in Argentina after Peron or Chile after Allende .

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Capital & Class. - 1986. - Issue 28 issue 28 by Conference of Socialist Economists


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