Chapter

Conclusion: The Futures of European Capitalism

Vivien A. Schmidt

in The Futures of European Capitalism

Published in print August 2002 | ISBN: 9780199253685
Published online November 2003 | e-ISBN: 9780191600210 | DOI: http://dx.doi.org/10.1093/0199253684.003.0008
Conclusion: The Futures of European Capitalism

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With regard to changes in policies, the book concludes that while countries have internationalized at different rates to varying degrees in different ways—with ‘internationalization’ rather than ‘globalization’, the better word to describe the process—Europeanization is a much stronger process, leading to much greater similarities in policies, even though differences remain. Moreover, Europeanization affects not only economic policies but also practices. Although nationally based varieties of capitalism continue to predominate today, in the future industrial sector‐based varieties reflecting the most internationally competitive of national varieties are more likely in an increasingly integrated Europe. As for discourse, these are certain to remain distinct even as they may serve to legitimate policies that are more and more similar and practices that are increasingly differentiated in terms of industrial sectors rather than national varieties of capitalism.

Keywords: competition; discourse; European integration; Europeanization; globalization; industrial sector; internationalization; policy change; varieties of capitalism

Chapter.  2924 words.  Illustrated.

Subjects: Comparative Politics

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