IDEAS home Printed from https://ideas.repec.org/a/mes/jeciss/v52y2018i4p1143-1158.html
   My bibliography  Save this article

Varieties of Capitalism and Sustainable Development: Institutional Complementarity Dynamics or Radical Change in the Hierarchy of Institutions?

Author

Listed:
  • Eric Magnin

Abstract

Sustainable development prospects are not substantially visible in the comparative analysis of models of capitalism. The concept of sustainable development does not appear in the initial theoretical framework of the “variety of capitalism” approach or in the “diversity of capitalism” approach. This article aims to contribute to current thinking about the interaction between the diversity of capitalism and sustainable development, based on the concepts of institutional complementarity and hierarchy, and to question the dynamics of various forms of capitalism in this perspective. The example of economic policies aimed at tackling global warming shows how each form of capitalism adopts measures that are compatible with its own unique configuration of complementary institutions, helping to make it “greener.” However, this trend fits into a dynamic of “limited sustainability” that does not challenge the finance-dominated institutional hierarchy or the current growth regime. The non-viability of our production/consumption model on a global scale calls for a more radical change in capitalism, combined with a shift in the institutional hierarchy.

Suggested Citation

  • Eric Magnin, 2018. "Varieties of Capitalism and Sustainable Development: Institutional Complementarity Dynamics or Radical Change in the Hierarchy of Institutions?," Journal of Economic Issues, Taylor & Francis Journals, vol. 52(4), pages 1143-1158, October.
  • Handle: RePEc:mes:jeciss:v:52:y:2018:i:4:p:1143-1158
    DOI: 10.1080/00213624.2018.1536017
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/00213624.2018.1536017
    Download Restriction: Access to full text is restricted to subscribers.

    File URL: https://libkey.io/10.1080/00213624.2018.1536017?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Benevolenski Vladimir & Ivanova Natalya & Jakobson Lev, 2023. "Social Origins Theory: Untapped Potential and the Test by the Pandemic Crisis," Nonprofit Policy Forum, De Gruyter, vol. 14(4), pages 317-344, October.
    2. Dirk Schoenmaker & Hans Stegeman, 2023. "Can the Market Economy Deal with Sustainability?," De Economist, Springer, vol. 171(1), pages 25-49, March.
    3. Bournakis, Ioannis & Rizov, Marian & Christopoulos, Dimitris, 2021. "Revisiting the Economic Performance and Institutions Debate in SSA Countries: The Role of Legal Origins in the Context of Ethnic Heterogeneity," MPRA Paper 106557, University Library of Munich, Germany.
    4. Bournakis, Ioannis & Rizov, Marian & Christopoulos, Dimitris, 2023. "Revisiting the effect of institutions on the economic performance of SSA countries: Do legal origins matter in the context of ethnic heterogeneity?," Economic Modelling, Elsevier, vol. 125(C).
    5. Smita Srinivas, 2023. "When is industry ‘sustainable’? The economics of institutional variety in a pandemic," Review of Evolutionary Political Economy, Springer, vol. 4(1), pages 75-107, April.
    6. Loewen, Bradley, 2022. "Revitalizing varieties of capitalism for sustainability transitions research: Review, critique and way forward," Renewable and Sustainable Energy Reviews, Elsevier, vol. 162(C).

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:mes:jeciss:v:52:y:2018:i:4:p:1143-1158. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/MJEI20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.