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Varieties of Capitalism
Peter A. Hall,David Soskice +1 more
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A number of schemas have been proposed to explain why countries have often been able to secure substantial rates of growth in different ways, often with relatively egalitarian distributions of income as discussed by the authors.Abstract:
Scholarship on varieties of capitalism (VofC) explores the ways in which the institutions structuring the political economy affect patterns of economic performance or policy making and the distribution of well-being. Contesting the claim that there is one best route to superior economic performance, a number of schemas have been proposed to explain why countries have often been able to secure substantial rates of growth in different ways, often with relatively egalitarian distributions of income. Prominent among them is a VofC analysis focused on the developed democracies that distinguishes liberal and coordinated market economies according to the ways in which firms coordinate their endeavors. On the basis of institutional complementarities among subspheres of the political economy, it suggests that the institutional structure of the political economy confers comparative institutional advantages, notably for radical and incremental innovation, which explains why economies have not converged in the context of globalization. Although this framework is contested, it has inspired new research on many subjects, including the basis for innovation, the determinants of social policy, the grounds for international negotiation, and the character of institutional change. In this issue area, there is promising terrain for further research into the origins of varieties of capitalism, the factors that drive institutional change in the political economy, how institutional arrangements in the subspheres of the political economy interact with one another, the normative underlay for capitalism, and the effects of varieties of capitalism on multiple dimensions of well-being.
Keywords:
capitalism;
political economy;
globalization;
politics;
institutional change;
economic growth;
macroeconomics;
innovation;
complementarities;
social policyread more
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Work-based higher education programmes in Germany and the US: Comparing multi-actor corporatist governance in higher education
TL;DR: In this article, an alternative conceptualization that identifies significant similarities in the governance mode of work-based higher education across the two countries is proposed, based on expert interviews and document analysis, the institutional analysis focuses on complex multi-actor governance constellations at the nexus of vocational training and higher education.
Journal ArticleDOI
Distribution sensitive innovation policies: Conceptualization and empirical examples
Amos Zehavi,Dan Breznitz +1 more
TL;DR: In this article, the authors explore policies that could be devised and employed with the aim of increasing growth while taking into account economic distribution, and argue that these programs are currently driven primarily by a concern for economic efficiency and not distribution.
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Commentary: A Citizenship without Social Rights? EU Freedom of Movement and Changing Access to Welfare Rights
Roxana Barbulescu,Adrian Favell +1 more
TL;DR: The UK and Germany have led the way toward a dismantling of non-discrimination for EU citizens and effectively the end of the anomalous "post-national" dimension of European citizenship as discussed by the authors.
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Varieties of economic constructivism in political economy: Uncertain times call for disparate measures
TL;DR: The Limits of Transparency: Ambiguity and the History of International Finance, Ithaca, NY: Cornell University Press. as mentioned in this paper, 2005; the authors of this paper.
Journal ArticleDOI
Placing entrepreneurship and firming small town economies: manufacturing firms, adaptive embeddedness, survival and linked enterprise structures
Jacob Salder,John R. Bryson +1 more
TL;DR: The relationship between firms and places is increasingly explained through the application of city-based externality models as discussed by the authors, and SMEs make a major contribution to the economy of cities and places.
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Posted Content
The Diversity of Modern Capitalism
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