Varieties of Capitalism: The Institutional Foundations of Comparative Advantage [NOOK Book]

Overview

What are the most fundamental differences among the political economies of the developed world? How do national institutional differences condition economic performance, public policy, and social well-being? Will they survive the pressures for convergence generated by globalization and technological change? These have long been central questions in comparative political economy. This book provides a new and coherent set of answers to them.

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Varieties of Capitalism: The Institutional Foundations of Comparative Advantage

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Overview

What are the most fundamental differences among the political economies of the developed world? How do national institutional differences condition economic performance, public policy, and social well-being? Will they survive the pressures for convergence generated by globalization and technological change? These have long been central questions in comparative political economy. This book provides a new and coherent set of answers to them.

Building on the new economics of organization, the authors develop an important new theory about which differences among national political economies are most significant for economic policy and performance. Drawing on a distinction between 'liberal' and 'coordinated' market economies, they argue that there is more than one path to economic success. Nations need not converge to a single Anglo-American model. They develop a new theory of 'comparative institutional advantage' that transforms our
understanding of international trade, offers new explanations for the response of firms and nations to the challenges of globalization, and provides a new theory of national interest to explain the conduct of nations in international relations.

The analysis brings the firm back into the centre of comparative political economy. It provides new perspectives on economic and social policy-making that illuminate the role of business in the development of the welfare state and the dilemmas facing those who make economic policy in the contemporary world. Emphasizing the 'institutional complementarities' that link labour relations, corporate finance, and national legal systems, the authors bring interdisciplinary perspectives to bear on
issues of strategic management, economic performance, and institutional change.

This pathbreaking work sets new agendas in the study of comparative political economy. As such, it will be of value to academics and graduate students in economics, business, and political science, as well as to many others with interests in international relations, social policy-making, and the law.
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Editorial Reviews

From the Publisher
"With this book Peter Hall and David Soskice are opening a new chapter in the analysis of contemporary capitalism. They have succeeded in bringing together in one compelling formulation historical - institutional and rationalist - individualist analytical perspectives. The empirical applications in Varieties of Capitalism illuminate in a profound way how both scholars and policy makers will benefit when they link macro- and micro-level analyses across the many different sectors that define contemporary capitalism in its many forms. Economists and political scientists, finally, are able to meet on common ground. This book will become a classic in the field."— Peter J. Katzenstein, Walter S. Carpenter, Jr. Professor of International Studies, Cornell University.

"This invaluable contribution to the comparative capitalism literature vigorously argues against the notion of convergence so popular in the globalism debates. The authors expand our understanding of national "production systems" to see new connections and show that the differences aong them allow countries to pursue distinctly different strategies of international competition. A must read."—Peter Gourevitch, University of California, San Diego

"This book has been well worth waiting for. It demonstrates the wealth of insights that could be achieveed through Soskice's innovative research program that began to chang the agenda of Comparative POlitical Economy more than a decade ago. The volume combines a definitive restatement of the varieties of cpitialism approach with illuminative applications to the range of research areas covered by it with some fascinating theoretical extensions. Excellent!"— F.W. Scharpf, Max Planck Institute for the Study of Societies, Cologne

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Product Details

  • ISBN-13: 9780191647703
  • Publisher: OUP Oxford
  • Publication date: 8/30/2001
  • Sold by: Barnes & Noble
  • Format: eBook
  • File size: 6 MB

Meet the Author

Harvard University

Duke University and

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Table of Contents

List of Figures
List of Tables
List of Contributors
1 An Introduction to Varieties of Capitalism 1
2 Varieties of Labor Politics in the Developed Democracies 71
3 Institutional and Sectoral Interactions in Monetary Policy and Wage/Price-Bargaining 104
4 Social Protection and the Formation of Skills: A Reinterpretation of the Welfare State 145
5 Firms and the Welfare State: When, Why, and How Does Social Policy Matter to Employers? 184
6 The Domestic Sources of Multilateral Preferences: Varieties of Capitalism in the European Community 213
7 Business, Government, and Patterns of Labor Market Policy in Britain and the Federal Republic of Germany 247
8 Employers, Public Policy, and the Politics of Decentralized Cooperation in Germany and France 275
9 Revisiting the French Model: Coordination and Restructuring in French Industry 307
10 Varieties of Corporate Governance: Comparing Germany and the UK 337
11 Macro-varieties of Capitalism and Micro-varieties of Strategic Management in European Airlines 361
12 The Legal Framework for Corporate Governance: The Influence of Contract Law on Company Strategies in Germany and the United States 387
13 Legal Irritants: How Unifying Law Ends up in New Divergences 417
14 National Varieties of Standardization 442
Bibliography 474
Index 521
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