The Diversity of Modern Capitalism

Business & Finance, Economics, International Economics, Nonfiction, Social & Cultural Studies, Political Science
Cover of the book The Diversity of Modern Capitalism by Bruno Amable, OUP Oxford
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: Bruno Amable ISBN: 9780191608339
Publisher: OUP Oxford Publication: December 4, 2003
Imprint: OUP Oxford Language: English
Author: Bruno Amable
ISBN: 9780191608339
Publisher: OUP Oxford
Publication: December 4, 2003
Imprint: OUP Oxford
Language: English

This book considers why institutional forms of modern capitalist economies differ internationally, and proposes a typology of capitalism based on the theory of institutional complementarity. Different economic models are not simply characterized by different institutional forms, but also by particular patterns of interaction between complementary institutions which are the core characteristics of these models. Institutions are not just simply devices which would be chosen by 'social engineers' in order to perform a function as efficiently as possible; they are the outcome of a political economy process. Therefore, institutional change should be envisaged not as a move towards a hypothetical 'one best way', but as a result of socio-political compromises. Based on a theory of institutions and comparative capitalism, the book proposes an analysis of the diversity of modern economies - from America to Korea - and identifies five different models: the market-based Anglo-Saxon model; Asian capitalism; the Continental European model; the social democratic economies; and the Mediterranean model. Each of these types of capitalism is characterized by specific institutional complementarities. The question of the stability of the Continental European model of capitalism has been open since the beginning of the 1990s: inferior macroeconomic performance compared to Anglo-Saxon economies, alleged unsustainability of its welfare systems, too rigid markets, etc. The book examines the institutional transformations that have taken place within Continental European economies and analyses the political project behind the attempts at transforming the Continental model. It argues that Continental European economies will most likely stay very different from the market-based economies, and caat political strategies promoting institutional change aiming at convergence with the Anglo-Saxon model are bound to meet considerable opposition.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

This book considers why institutional forms of modern capitalist economies differ internationally, and proposes a typology of capitalism based on the theory of institutional complementarity. Different economic models are not simply characterized by different institutional forms, but also by particular patterns of interaction between complementary institutions which are the core characteristics of these models. Institutions are not just simply devices which would be chosen by 'social engineers' in order to perform a function as efficiently as possible; they are the outcome of a political economy process. Therefore, institutional change should be envisaged not as a move towards a hypothetical 'one best way', but as a result of socio-political compromises. Based on a theory of institutions and comparative capitalism, the book proposes an analysis of the diversity of modern economies - from America to Korea - and identifies five different models: the market-based Anglo-Saxon model; Asian capitalism; the Continental European model; the social democratic economies; and the Mediterranean model. Each of these types of capitalism is characterized by specific institutional complementarities. The question of the stability of the Continental European model of capitalism has been open since the beginning of the 1990s: inferior macroeconomic performance compared to Anglo-Saxon economies, alleged unsustainability of its welfare systems, too rigid markets, etc. The book examines the institutional transformations that have taken place within Continental European economies and analyses the political project behind the attempts at transforming the Continental model. It argues that Continental European economies will most likely stay very different from the market-based economies, and caat political strategies promoting institutional change aiming at convergence with the Anglo-Saxon model are bound to meet considerable opposition.

More books from OUP Oxford

Cover of the book The Darwinian Tourist by Bruno Amable
Cover of the book Environmental Politics: A Very Short Introduction by Bruno Amable
Cover of the book Visual Experience by Bruno Amable
Cover of the book Darwin the Writer by Bruno Amable
Cover of the book Fulke Greville and the Culture of the English Renaissance by Bruno Amable
Cover of the book Populism and Patronage by Bruno Amable
Cover of the book The Oxford Handbook of Modern Irish History by Bruno Amable
Cover of the book Essays in Legal Philosophy by Bruno Amable
Cover of the book Washington Square by Bruno Amable
Cover of the book Capital Markets Union in Europe by Bruno Amable
Cover of the book Thought in Action by Bruno Amable
Cover of the book Indiana by Bruno Amable
Cover of the book Ezra Pound: Poet by Bruno Amable
Cover of the book Purity, Community, and Ritual in Early Christian Literature by Bruno Amable
Cover of the book Aid and Development by Bruno Amable
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy