The Diversity of Modern Capitalism
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The question of the stability of the Continental European model of capitalism has been open since the beginning of the 1990s: inferior macroeconomic performance compared to Anglo-Saxon economies, alleged unsustainability of its welfare systems, too rigid markets, etc. The book examines the institutional transformations that have taken place within Continental European economies and analyses the political project behind the attempts at transforming the Continental model. It argues that Continental European economies will most likely stay very different from the market-based economies, and caat political strategies promoting institutional change aiming at convergence with the Anglo-Saxon model are bound to meet considerable opposition.
This book proposes a comparative analysis of modern capitalism. It identifies five different types of modern economies: the market-based economies, Asian capitalism, the Continental European model, the social democratic economies, and the Mediterranean model. It presents their main institutional characteristics and relates the different models their political and economic dynamics. The book also assesses the likely future of the Continental European model, making a significant contribution to the 'varieties of capitalism' debate.
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