What are the most fundamental differences among the political economies of the developed world? How do national institutional differences condition economic performance, public policy, and social well-being? Will they survive the pressures for convergence generated by globalization and technological change? These have long been central questions in comparative political economy. This book provides a new and coherent set of answers to them.
Building on the new economics of organization, the authors develop an important new theory about which differences among national political economies are most significant for economic policy and performance. Drawing on a distinction between 'liberal' and 'coordinated' market economies, they argue that
there is more than one path to economic success. Nations need not converge to a single Anglo-American model. They develop a new theory of 'comparative institutionaladvantage' that transforms our understanding of international trade, offers new explanations for the response of firms and nations to the challenges of globalization, and provides a new theory of national interest to explain the conduct of nations in international relations. The analysis brings the firm back
into the centre of comparative political economy. It provides new perspectives on economic and social policy-making that illuminate the role of business in the development of the welfare state and the dilemmas facing those who make economic policy in the contemporary world. Emphasizing the
'institutional complementarities' that link labour relations, corporate finance, and national legal systems, the authors bring interdisciplinary perspectives to bear on issues of strategic management, economic performance, and institutional change. This pathbreaking work sets new agendas in the study of comparative political economy. As such, it will be of value to academics and graduate students in economics, business, and political science, as well as to many others
with interests in international relations, social policy-making, and the law.
`an important and carefully argued book'
`quoted as one of the six books to change the world'
`This book has been well worth waiting for. It demonstrates the wealth of insights that could be achieved through Soskice's innovative research program that began to change the agenda of Comparative Political Economy more than a decade ago. The volume combines a definitive restatement of the varieties of capitialism approach with illuminative applications to the range of research areas covered by it with some fascinating theoretical extensions.
Professor F.W. Scharpf, Max Planck Institute for the Study of Societies, Cologne
`With this book Peter Hall and David Soskice are opening a new chapter in the analysis of contemporary capitalism. They have succeeded in bringing together in one compelling formulation historical - institutional and rationalist - individualist analytical perspectives. The empirical applications in Varieties of Capitalism illuminate in a profound way how both scholars and policy makers will benefit when they link macro- and micro-level analyses across the
many different sectors that define contemporary capitalism in its many forms. Economists and political scientists, finally, are able to meet on common ground. This book will become a classic in the field.'
Peter J. Katzenstein, Walter S. Carpenter, Jr. Professor of International Studies, Cornell University.
1: Peter A. Hall and David Soskice: An Introduction to Varieties of Capitalism
Part I: General Themes and Diverse Applications
2: Kathleen Thelen: Varieties of Labor Politics in the Developed Democracies
3: Robert J. Franzese, Jr.: Institutional and Sectoral Interactions in Monetary Policy and Wage-Price Bargaining
4: Margarita Estevez-Abe, Torben Iversen, and David Soskice: Social Protection and the Formation of Skills: A Reinterpretation of the Welfare State
5: Isabela Mares: Firms and the Welfare State: When, Why, and How Does Social Policy Matter to Employers?
6: Orfeo Fioretos: The Domestic Sources of Multilateral Preferences: Varieties of Capitalism in the European Community
Part II: Case-Studies in Public Policy, Continuity, and Change
7: Stewart Wood: Business, Government, and Labour Market Policy in Britain and Germany
8: Pepper D. Culpepper: Employers, Public Policy, and the Politics of Decentralized Cooperation in Germany and France
9: Bob Hancke: Revisiting the French Model: Coordination and Restructuring in French Industry
Part III: Corporate Governance, Firm Strategy, and the Law
10: Sigurt Vitols: Varieties of Corporate Governance: Comparing Germany and the UK
11: Mark Lehrer: Macro-Varieties of Capitalism and Micro-Varieties of Strategic Management in European Airlines
12: Steven Casper: The Legal Framework for Corporate Governance: The Influence of Contract Law on Company Strategies in Germany and the United States
13: Gunther Teubner: Legal Irritants: How Unifying Law Ends Up in New Divergences
14: Jay Tate: National Varieties of Standardization
Number Of Pages: 560
Published: 1st November 2001
Country of Publication: GB
Dimensions (cm): 23.39 x 15.6
Weight (kg): 0.92