Public Financial Institutions, Industrial Policies, and Quebec Capitalist Development, 1960-2018.
Bibliographic record
Abstract
This thesis analyzes the role of public financial institutions and industrial policies in Quebec capitalist development between 1960 and 2018. This study is informed by a Marxist analysis articulating the transformations in public financial institutions and industrial policies to the systemic shifts in private finance and business organization during different phases of the uneven capitalist development in Quebec. \n\nQuebec’s public financial institutions evolved in response to the weaknesses and “short-termism” of private finance. The dissertation argues these policy instruments became disciplined by market imperatives, enabled by class conflicts that made public financial institutions and industrial policies subservient to capitalist “catch-up” and internationalization. Documentary analysis tracks the main regulatory changes of these policies and institutions and the political struggles waged by business associations and unions over their goals.\n\nMultiple firm-level cases reveal that Quebec’s public financial institutions shared features with “patient capital” at odds with financialization, but they still accommodated neoliberal corporate restructurings. This process is captured by the concept of “neoliberal loyalty”. While these institutions protected the province’s businesses from predatory rentiers, these firms still faced intensifying capitalist competition in the world market.\n\nA case study of Bombardier analyzes if the company’s accumulation practices were consistent or in contradiction with Quebec’s industrial policies. Bombardier became involved in financial activities distinct from its core manufacturing operations, but it still remained predominantly an industrial conglomerate. The case study supports a conception of financialization intensifying financial discipline upon “real” production, and as compatible with the province’s neoliberal industrial policies.\n\nIn contrast to the institutionalists depicting the “Quebec model of development” as a policy regime divergent from neoliberalism, this thesis contributes to a literature locating Quebec’s economic policies, labour market trends, and overall policy regime as a variety of neoliberalism. A conclusion of this thesis is that public banking should not be considered as a ready-made “progressive” alternative to financialization. This conclusion challenges the assumptions of institutional perspectives on “patient capital”.
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How this classification was reachedexpand
Full frame machine prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. The Gemma side is a direct model label for every work in the frame, read from the title-only record. The Codex side is a classifier learned from the 10,348 direct Codex labels and calibrated to design-weighted sample rates; fields without enough sample support carry no Codex call. Candidate is the union of the two sides; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels.
Distilled classifier scores by category (both heads)
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.000 | 0.002 |
| Meta-epidemiology (narrow) | 0.000 | 0.000 |
| Meta-epidemiology (broad) | 0.000 | 0.000 |
| Bibliometrics | 0.002 | 0.003 |
| Science and technology studies | 0.004 | 0.002 |
| Scholarly communication | 0.003 | 0.001 |
| Open science | 0.001 | 0.001 |
| Research integrity | 0.001 | 0.001 |
| Insufficient payload (model declined to judge) | 0.010 | 0.000 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; a candidate call from one source (direct Gemma or distilled Codex), not a consensus.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".