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Deducing Varieties of Capitalism

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  • Carney, Richard

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.

Suggested Citation

  • Carney, Richard, 2007. "Deducing Varieties of Capitalism," MPRA Paper 5145, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:5145
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    References listed on IDEAS

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    Cited by:

    1. Mazumdar, Surajit, 2008. "Crony Capitalism: Caricature or Category?," MPRA Paper 19626, University Library of Munich, Germany.

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    More about this item

    Keywords

    capitalism; political economy; financial institutions;
    All these keywords.

    JEL classification:

    • P10 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - General
    • N20 - Economic History - - Financial Markets and Institutions - - - General, International, or Comparative
    • O57 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries

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