Capitalism, Democracy, and Welfare

by Torben Iversen

• ISBN13: 9780521613071
• ISBN10: 0521613078
• Format: Paperback
• Copyright: 2005-07-11
• Publisher: Cambridge University Press

Summary

This book builds on new institutionalist theory in both economics and political science to offer a general political economy framework for the study of welfare capitalism. Based on the key idea that social protection in a modern economy, both inside and outside the state, can be understood as protection of specific investments in human capital, the book offers a systematic explanation of popular preferences for redistributive spending, the economic role of political parties and electoral systems, and labor market stratification (including gender inequality). Contrary to the popular idea that competition in the global economy undermines international differences in the level of social protection, the book argues that these differences are made possible by a high international division of labor. Such a division is what allows firms to specialize in production that requires an abundant supply of workers with specific skills, and hence high demand for protection.

Author Biography

Torben Iversen is Professor of Government at Harvard University

Table of Contents

Tables	x
Figures	xiii
Acknowledgments	xv
Part I: Welfare Production Regimes
A Political Economy Approach to the Welfare State	3	(27)
A Brief Analytical History of Modern Welfare Production Regimes	30	(47)
Part II: Political Foundations of Social Policy
Explaining Individual Social Policy Preferences	77	(45)
Credible Commitment, Political Institutions, and Social Protection	122	(61)
Part III: Forces of Change
Coping With Risk: The Expansion of Social Protection	183	(34)
New Tradeoffs, New Policies: Challenges of the Service Economy	217	(62)
Bibliography	279	(18)
Index	297