Deducing Varieties of Capitalism

Carney, Richard (2007): Deducing Varieties of Capitalism.

Abstract

One of the key criticisms made of the Varieties of Capitalism perspective advanced by Hall and Soskice (2001) is that it is functionalist. Here, I offer a deductive model of capitalism that is consistent with their framework. Specifically, I deduce the structure of nations' capitalist institutions based on distributive welfare gains to those actors representing an economy's main factors of production - land, labor, and capital. Based on the coalitions and political battles that may be fought among these actors, I derive seven capitalist ideal-types that fall along the LME-CME spectrum.

• Item Type: MPRA Paper
• Language: English
• Keywords: capitalism; political economy; financial institutions
• Subjects: P - Economic Systems > P1 - Capitalist Systems > P10 - General; N - Economic History > N2 - Financial Markets and Institutions > N20 - General, International, or Comparative; O - Economic Development, Innovation, Technological Change, and Growth > O5 - Economywide Country Studies > O57 - Comparative Studies of Countries

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