The AFL-CIO, the U.S. Balance of Payments, and the End of the Post–World War II Liberal Order, 1965–1973

IF 0.7 2区 历史学 Q4 BUSINESS Enterprise & Society Pub Date : 2023-11-21 DOI:10.1017/eso.2023.31
Melanie Sheehan
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Abstract

This article analyzes the AFL-CIO’s international economic policy activism in the late 1960s and early 1970s within the context of the collapse of Bretton Woods monetary system. It shows that AFL-CIO economists developed a far-reaching critique of multinational corporations that encompassed not only concerns about import competition and capital flight but also charges that multinational firms contributed to the United States’ balance of payments woes. Fighting charges that union wages drove inflation, labor leaders maintained that private capital outflows and intracompany transactions exacerbated U.S. payments deficits. They therefore advocated for capital controls and import restrictions as alternatives to fiscal and monetary restraint. Their efforts to preserve the expansionary policies underpinning postwar liberalism, however, ultimately failed. By calling attention to the AFL-CIO’s failed activism in international monetary politics, the article offers a new vantage point for understanding organized labor’s declining influence in the last third of the twentieth century.

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劳联-产联,美国国际收支和二战后自由秩序的终结,1965-1973
本文在布雷顿森林货币体系崩溃的背景下,分析了AFL-CIO在20世纪60年代末和70年代初的国际经济政策行动主义。它表明,劳联-产联经济学家对跨国公司提出了深远的批评,不仅包括对进口竞争和资本外逃的担忧,还指责跨国公司造成了美国的国际收支困境。针对工会工资推动通胀的指控,劳工领袖坚持认为,私人资本外流和公司内部交易加剧了美国的国际收支赤字。因此,他们主张将资本管制和进口限制作为财政和货币限制的替代方案。然而,他们维持支撑战后自由主义的扩张性政策的努力最终失败了。通过呼吁人们关注劳联-产联在国际货币政治中失败的行动主义,这篇文章为理解有组织的劳工在20世纪最后三分之一的衰落影响力提供了一个新的有利视角。
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来源期刊
CiteScore
1.20
自引率
30.00%
发文量
37
期刊介绍: Enterprise & Society offers a forum for research on the historical relations between businesses and their larger political, cultural, institutional, social, and economic contexts. The journal aims to be truly international in scope. Studies focused on individual firms and industries and grounded in a broad historical framework are welcome, as are innovative applications of economic or management theories to business and its context.
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