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 institutional advantage' 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.
Publisher: Oxford University Press
Weight: 841 g
Dimensions: 235 x 156 x 30 mm
... this volume and its associated literature, will become the paradigm of explanation for the next decade. - West European Politics
Contains some first-rate analysis. - British Journal of International Relations.
This volume offers a new approach to understanding the institutional differences and similarities among the developed economies. - Progress in Human Geography
A milestone in the development of the subdiscipline of comparative political economy ... There is no doubt that Varieties of Capitalism will prove to be a landmark text. It is a very important collection, of value to all students in the field. - American Political Science Review
In a collection of consistently high-quality pieces, there are particularly valuable comparative chapters on industrial relations, training systems, and corporate governance. - American Political Science Review
Written for the informed, non-specialist observer ... a useful and wide-ranging book. - Financial Adviser
This is an academic book in the sense that it draws on recent advances in economic and political theory - non-economists may find some chapters hard going - but it is also firmly based on an analysis of how companies really behave ... an important and carefully argued book. - Sir Geoffrey Owen, Financial Times
Quoted as one of the six books to change the world. - New Statesman
It is a useful and wide-ranging book. - John Sloan, Financial Adviser Careers Extra
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 capitalism approach with illuminative applications to the range of research areas covered by it with some fascinating theoretical extensions. Excellent! - Professor F.W. Scharpf, Max Planck Institute for the Study of Societies, Cologne
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