Deducing Varieties of Capitalism
AbstractOne of the key criticisms made of the Varieties of Capitalism perspective advanced by Hall and Soskice (2001) is that it is functionalist. Here, I offer a deductive model of capitalism that is consistent with their framework. Specifically, I deduce the structure of nations' capitalist institutions based on distributive welfare gains to those actors representing an economy's main factors of production - land, labor, and capital. Based on the coalitions and political battles that may be fought among these actors, I derive seven capitalist ideal-types that fall along the LME-CME spectrum.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 5145.
Date of creation: 11 Sep 2007
Date of revision:
capitalism; political economy; financial institutions;
Find related papers by JEL classification:
- P10 - Economic Systems - - Capitalist Systems - - - General
- N20 - Economic History - - Financial Markets and Institutions - - - General, International, or Comparative
- O57 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries
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