Labour relations, economic governance and the crisis: turning the tide again?

This article discusses the implications of the current economic crisis for the interaction of economic policy and labour relations. Its structure distinguishes between four phases of economic policy: Keynesianism; the conversion to orthodox economics; economic policy under accelerating market integration; and current crisis management. For each of the phases the impact of economic policy on the involvement of organized interests in public policy, inter- and intra-class relations, the labour-relations institutions, their feedbacks and performance is discussed. The article concludes that the extent to which coordinated bargaining and its actors enjoy state sponsorship may make the difference between stability and disintegration, and whatever changes will occur, they will increase cross national heterogeneity.