This paper engages with the works of Autonomist Marxists, such as Hardt, Negri and Arvidsson, who have argued that the so-called ‘new economy’, which is characterized by a new importance of immaterial labour, knowledge and processes of consumption, gives rise to a new law of value and changed labour relations in what they call the ‘social factory’. While we see a lot of value in this emerging b...

The article proposes an analysis of labour markets and related social policy that corrects the supply-side emphasis that has dominated economic policy since the decline of Keynesian approaches in the late 1970s. It starts from a potential tension between the apparent need of economies for both flexible workers and confident consumers. This can be resolved through three different approaches: sep...