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Political Economy of Modern Capitalism

Political Economy of Modern Capitalism
Mapping Convergence and Diversity

Edited by:
  • Colin Crouch - University of Warwick, UK, European University Institute, Florence and University of Oxford
  • Wolfgang Streeck - Max-Planck-Institute, Germany

December 1997 | 224 pages | SAGE Publications Ltd
Modern capitalism, from neo-liberalism to deregulation, has come to dominate national and international political economy. This major book addresses this convergence and provides a comprehensive overview of the implications for future capitalist diversity. Leading international contributors consider important questions like: + Is the preference for free markets a well-founded response to intensified global competition? + Does this mean that all advanced societies must converge on an imitation of the United States? + What are the implications for the institutional diversity of the advanced economies? + How do we now evaluate the systems and institutions in East Asia? Political Economy and Modern Capitalism provides a practical and wide-ranging analysis of the public policy choices facing governments and business around the world. It will be invaluable reading for students and researchers of political economy, comparative politics, political science, political sociology, public policy, and administration.

To the Memory of Andrew Shonfield

Colin Crouch and Wolfgang Streeck
The Future of Capitalist Diversity

Ronald Dore
The Distinctiveness of Japan
Wolfgang Streeck
German Capitalism
Does It Exist? Can It Survive?

Jonas Pontusson
Between Neo-liberalism and the German Model
Swedish Capitalism in Transition

Robert Boyer
French Statism at the Crossroads
Marino Regini
Social Institutions and Production Structure
The Italian Variety of Capitalism in the 1980s

Andrew Graham
The UK 1979-1995
Myths and Realities of Conservative Capitalism

Rogers Hollingsworth
The Institutional Embeddedness of American Capitalism
Jean-Paul Fitoussi
Following the Collapse of Communism, Is There a Middle Way?
Philippe d'Iribarne
A Check to Enlightened Capitalism
Philip G Cerny
International Finance and the Erosion of Capitalist Diversity
Susan Strange
The Future of Global Capitalism; or, will Divergence Persist Forever?

`The real jewels in the crown in this collection are the essays with which it opens and closes. The editorial introduction lays out the contemporary debate on capitalist models with a rare clarity. Susan Stange's conclusion takes the new institutionalism (including that of the editors) stridently and persuasively to task. A new generation of post-graduate students could, with value, begin their work on capitalist futures by reading this exchange' - Political Studies

`A timely read. This is no polemic, but rather a thoughtful series of essays' - International Affairs

` This volume collects some of the best and most provocative studies of this genre. In particular, it includes the path-breaking contribution of Ronald Dore, "The Distinctiveness of Japan," Robert Boyer's comprehensive examination of "French Statism at the Crossroads," Wolfgang Streeck's powerfully detailed look at "German Capitalism: Does it Exist? Can it Survive?" Philip Cerny's convincing chapter "International Finance and Erosion of Capitalism: Or Will Divergence Persist Forever?" Those who teach or do research will find this compendium a handy tool to revisit seminar ideas, review important debates or just double-check references. The more ambitious will see this edited volume as essential reading navigating through the minefield of wildly exaggerated claims about globalization, footloose capital and the invulnerability of triumphant liberalism' - Canadian Journal of Political Science

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