Deducing Varieties of Capitalism

Richard Carney

MPRA Paper from University Library of Munich, Germany

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.

Keywords: capitalism; political economy; financial institutions (search for similar items in EconPapers)
JEL-codes: N20 O57 P10 (search for similar items in EconPapers)
Date: 2007-09-11
New Economics Papers: this item is included in nep-pol
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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