Article

Economic Interests and Political Representation

Torben Iversen and David Soskice

in The Oxford Handbook of Business and Government

Published in print February 2010 | ISBN: 9780199214273
Published online May 2010 | | DOI: http://dx.doi.org/10.1093/oxfordhb/9780199214273.003.0010

Series: Oxford Handbooks in Business and Management

 Economic Interests and Political Representation

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This article begins by explaining the positive relationship between distributional equality and redistribution. It proposes in the second section that the correlation is indirect: two factors, the electoral system and the degree of economic coordination, each impact on both distribution and redistribution. Proportional representation (PR) promotes both distributive equality and especially redistribution; so does coordinated capitalism with an even greater impact on distribution. PR promotes center-left coalitions; and coordinated capitalism, by encouraging investment in co-specific skills, reinforces both median voter and business support for wage compression and strong welfare state insurance. The positive correlation between distributional equality and redistribution is in turn explained by a positive correlation between PR and coordinated capitalism.

Keywords: economic interests; political representation; electoral system; economic coordination; proportional representation; redistribution; distributional equality

Article.  17280 words. 

Subjects: Business and Management ; Public Management and Administration ; Business History

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