The disorderly end of neoliberalism in OECD countries
The neoliberal "interlude" is currently coming to an end in OECD countries : In goods and services markets, where governments accept corporate concentration and the creation of large groups that have dominant positions; As regards global trade, due to the return of protectionism; As regards the international monetary system, given the increasing acceptance of the idea that capital controls will be needed to limit international capital flows. But curiously, the "neoliberal interlude" is not coming to an end in labour markets, which are continuously made more flexible, and where income distribution continues to be skewed at the expense of employees. It is well known that a return of inflation would be a very important consequence of a return to less flexible labour markets, as it would give employees greater bargaining power.