A Comparative Analysis of Capitalism

Bruno Amable

in The Diversity of Modern Capitalism

Published in print December 2003 | ISBN: 9780199261130
Published online July 2005 | e-ISBN: 9780191602474 | DOI:
 A Comparative Analysis of Capitalism

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This chapter presents comparative analysis of capitalism based on the theory of institutions as political equilibriums and concepts of institutional complementarity and hierarchy discussed in chapter 2. It presents five possible models of capitalism (market-based economies, Social-Democratic economies, Asian capitalism, Continental European capitalism, and South European capitalism), and the set of institutional complementarities between five institutional forms that these models are based on. It argues that no single developed economy is accurately described by any of the five models of capitalism, which are ideal types. They may possess characteristics which make them close to one or the other model, without being fully identifiable with the model itself.

Keywords: institutional complementarities; market-based economies; Social-Democratic economies; Asian capitalism; Continental European capitalism; South European capitalism

Chapter.  14239 words.  Illustrated.

Subjects: Economic Systems

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