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Diversity and Renewal of the Different Forms of Capitalism

In: Political Economy of Capitalisms

Author

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  • Robert Boyer

    (EHESS, Ecole des Hautes Etudes en Sciences Sociale et Institut des Amériquesstitut des Amériques)

Abstract

Within regulation analytical framework, there are no reason for any convergence of all economies toward a canonical and superior form of capitalism. There are many theoretical and historically observed mix of market, firm, state and community logics. The primacy of political coalition in the design and architecture of institutional forms is another source of diversity across nations. Furthermore, two key processes govern the evolution of capitalisms, respectively endometabolism and hybridization. Creative destruction is not only the outcome of competition, but of these other processes. The diversity of past and present capitalisms is a major stylized fact and display contrasted mix of short run flexibility, dynamic efficiency and social justice objectives. China is a good example of adaptability of capitalist relations to a quite different society. Contrary to a common intuition, internationalization has polarized contrasted trajectories across the four continents.

Suggested Citation

  • Robert Boyer, 2022. "Diversity and Renewal of the Different Forms of Capitalism," Springer Books, in: Political Economy of Capitalisms, chapter 0, pages 215-260, Springer.
    • Handle: RePEc:spr:sprchp:978-981-19-3536-7_9
    DOI: 10.1007/978-981-19-3536-7_9
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    Cited by:

    1. Tomita, Yosuke, 2024. "Does downside risk in the stock market differ by legal origin? The impact of property rights and the rule of law on stock markets," International Review of Financial Analysis, Elsevier, vol. 93(C).

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