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From Stages to Varieties of Capitalism: Lessons, Limits and Prospects

  • Eyüp Özveren

    ()

    (Department of Economics, Middle East Technical University, Turkey)

  • Utku Havuç

    ()

    (Science and Technology Policy Studies, Middle East Technical University, Turkey)

  • Emrah Karaoğuz

    ()

    (Department of Economics, İzmir University of Economics, Turkey)

The basic aim of this paper is to take a tour de force in order to put the varieties of capitalism (VoC) approach in perspective and to assess its limits and further prospects. There existed before it a certain stages-ofcapitalism (SoC) approach with a long history. The SoC approach developed largely under the influence of social and anthropological stage theories of progress and of Marxism. Accordingly, capitalism as a mode of production was perceived as progressing through commercial, industrial, and financial stage. In this paper, this link will be recovered for the benefit of further scholarship. We emphasize that the VoC approach, by the weight it puts on efficiency tends to rank circumstantially the variety at issue, thereby implying occasionally a desirable move towards the more efficient form. This means that the elements forming a given variety may actually be matched with the successive stages of a certain progress.

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Article provided by Savez ekonomista Vojvodine, Novi Sad, Serbia in its journal Panoeconomicus.

Volume (Year): 59 (2012)
Issue (Month): 1 (March)
Pages: 13-36

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Handle: RePEc:voj:journl:v:59:y:2012:i:1:p:13-36
Contact details of provider: Web page: http://www.panoeconomicus.rs/

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  1. Galor, Oded, 1996. "Convergence? Inferences from Theoretical Models," Economic Journal, Royal Economic Society, vol. 106(437), pages 1056-69, July.
  2. Knetter, Michael M, 1989. "Price Discrimination by U.S. and German Exporters," American Economic Review, American Economic Association, vol. 79(1), pages 198-210, March.
  3. Amable, Bruno, 2003. "The Diversity of Modern Capitalism," OUP Catalogue, Oxford University Press, number 9780199261147, March.
  4. Siri Terjesen & Jolanda Hessels, 2009. "Varieties of export-oriented entrepreneurship in Asia," Asia Pacific Journal of Management, Springer, vol. 26(3), pages 537-561, September.
  5. Ruggie, John Gerard, 1993. "Territoriality and beyond: problematizing modernity in international relations," International Organization, Cambridge University Press, vol. 47(01), pages 139-174, December.
  6. Keith Tribe, 2002. "Historical Schools of Economics: German and English," Method and Hist of Econ Thought 0211002, EconWPA.
  7. Hall, Peter A. & Soskice, David (ed.), 2001. "Varieties of Capitalism: The Institutional Foundations of Comparative Advantage," OUP Catalogue, Oxford University Press, number 9780199247752, March.
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