The Diversity of Modern Capitalism

by Amable, Bruno

• ISBN13: 9780199261147
• ISBN10: 0199261148
• Format: Paperback
• Copyright: 2004-02-12
• Publisher: Oxford University Press

Summary

This book proposes a comparative analysis of modern capitalism. It identifies five different types of modern economies: the market-based economies, Asian capitalism, the Continental European model, the social democratic economies, and the Mediterranean model. It presents their main institutional characteristics and relates the different models their political and economic dynamics. The book also assesses the likely future of the Continental European model, making a significant contribution to the 'varieties of capitalism' debate.

Table of Contents

List of Figures	ix
List of Tables	xii
List of Abbreviations	xiv
Introduction	1	(25)
The Institutional Diversity of Capitalism	1	(4)
Institutional Complementarity	5	(4)
Institutions and Politics	9	(4)
Five Different Models of Capitalism	13	(3)
An Empirical Investigation of the Diversity of Capitalism	16	(7)
Institutional Change and Political Strategies in Europe	23	(3)
Institutions, Complementarity, and Hierarchy	26	(48)
Institutions and Economics	26	(28)
Why Institutions Matter	26	(6)
Elements of a Theory of Institutions	32	(3)
Institutions and Conflict of Interest	35	(11)
Institutions as a Political-Economy Equilibrium	46	(8)
Institutional Complementarity	54	(12)
Interaction	55	(4)
Complementarity	59	(7)
Institutional Hierarchy	66	(8)
A Comparative Analysis of Capitalism	74	(41)
Historical and International Differentiation of Capitalism	74	(5)
Methodological Questions	79	(6)
Social Systems of Innovation and Production	85	(8)
Diversity of Capitalism	93	(22)
Elements of Differentiation Among Models; Possible Institutional Complementaries	93	(9)
Five Types of Capitalism	102	(13)
Institutional Diversity: An Analysis of Five Domains	115	(56)
Product Markets	115	(9)
The Wage--Labour Nexus	124	(18)
Employment Protection	125	(5)
Industrial Relations	130	(8)
Employment Policy	138	(4)
Financial Systems	142	(7)
Social Protection	149	(11)
Education	160	(9)
Conclusion	169	(2)
The Diversity of Economic Models	171	(54)
The Five Models of Capitalism	171	(10)
Diversity of Capitalism and Political Equilibria	181	(16)
Partisan Politics	183	(6)
Political Systems	189	(8)
Comparative Institutional Advantage?	197	(16)
An Analysis of Science/Technology/Industry Specialization	200	(10)
The New Economy	210	(3)
Economic Performance	213	(12)
Whither Continental European Capitalism?	225	(41)
The European Context	226	(5)
The Third Way and the Continental European Model	231	(13)
A Crash Course on the Third Way	231	(4)
The Economics and Economic Policy of the Third Way	235	(3)
A Battle of Systems?	238	(6)
The Continental European Welfare--Labour Nexus	244	(9)
A Limited Welfare State Retrenchment	245	(5)
New Bargaining Patterns	250	(1)
No European Level Wage Bargaining	251	(2)
The Financial Sector	253	(8)
Conclusion	261	(5)
Appendix: The Methodology behind the Statistical Analysis in Chapter 4	266	(24)
References	290	(13)
Index	303