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The aim of this paper is to analyse institutional change in the Spanish labour market in from a historical perspective, particularly regarding two main areas: labour regulation and collective bargaining. The main thesis is that it is possible to identify four main stages. Firstly, there was an institutional structure unfavourable to workers, which was overcome by the agency of the labour movement in the period of the so-called desarrollismo (1960-1975). Secondly, the years of transition from dictatorship to democracy (1976-1983) were a period of labour market regulation. Thirdly, there was a period of labour market dualism (1984-1996) based on the application of flexibility at the margin in the face of veto power. This was followed by deregulation (1997-2019), which was a consequence of the weakening of power resources resulting from the previous labour market segmentation. [ABSTRACT FROM AUTHOR]

The concept of financialisation is being widely used to describe certain structural changes in advanced capitalist economies. The main approaches to this concept are discussed in this paper. Firstly, the causes of the financial expansion that are synthesised in innovation, liquidification and deregulation processes are identified; secondly, the indicators concerning these processes relative to the structure of the balance sheet and profit and loss account of the main economic actors are empirically analysed for the Spanish case. The results of the analysis show a trend consistent with all capitalist economies, in which financial capital gains increase not only when the net profits of companies rise, but also when they collapse in a context of severe economic crisis and high unemployment. [ABSTRACT FROM AUTHOR]