One 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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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number
5145.
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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La Porta, Rafael & Lopez-de-Silanes, Florencio & Shleifer, Andrei, 2001.
"Government Ownership of Banks,"
Working Paper Series
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