Varieties of Capitalism, Types of Democracy and Globalization

Author: Masanobu Ido

Publisher: Routledge

ISBN: 1136342702

Category: Political Science

Page: 248

View: 5349

This book combines two strands of international political economy; examining how capitalism and democracy shape and are shaped by each other. Although until now considered separately, this path-breaking book proposes an innovative view of a political-economic system that inextricably links the model of capitalism to the type of democracy, where continuation is mutually reinforced. Advanced countries have achieved post-war affluence by adopting one of two contrasting models of capitalism; liberal market economies or coordinated market economies, and two opposing types of democracies: consensus or majoritarian democracies. Expert contributors in the field consider the question of whether and how globalization is transforming the post-war political–economic systems of advanced countries such as Britain, France, Germany, Italy and Japan, as well as the question of how it is shaping democracy and capitalism combinations in former socialist countries in Eastern Europe and the new "capitalist" China. The book examines various topics, including party system change, a political dilemma of the established party, and corporate governance reforms, to posit an original an innovative theory of international political economy. Variety of Capitalism, Types of Democracy and Globalization will be of interest to students and scholars of comparative politics, political economy and globalization.
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Varieties of Capitalism

The Institutional Foundations of Comparative Advantage

Author: Peter A. Hall

Publisher: Oxford University Press

ISBN: 0199247749

Category: Business & Economics

Page: 540

View: 1055

What are the most fundamental differences among the political economies of the developed world? How do national institutional differences condition economic performance, public policy, and social well-being? Will they survive the pressures for convergence generated by globalization and technological change? These have long been central questions in comparative political economy. This book provides a new and coherent set of answers to them. Building on the new economics of organization, the authors develop an important new theory about which differences among national political economies are most significant for economic policy and performance. Drawing on a distinction between 'liberal' and 'coordinated' market economies, they argue that there is more than one path to economic success. Nations need not converge to a single Anglo-American model. They develop a new theory of 'comparative institutionaladvantage' that transforms our understanding of international trade, offersnew explanations for the response of firms and nations to the challenges of globalization, and provides a new theory of national interest to explain the conduct of nations in international relations. The analysis brings the firm back into the centre of comparative political economy. It provides new perspectives on economic and social policy-making that illuminate the role of business in the development of the welfare state and the dilemmas facing those who make economic policy in the contemporary world. Emphasizing the 'institutional complementarities' that link labour relations, corporate finance, and national legal systems, the authors bring interdisciplinary perspectives to bear on issues of strategic management, economic performance, and institutional change. This pathbreaking work sets new agendas in the study of comparative political economy. As such, it will be of value to academics and graduate students in economics, business, and political science, as well as tomany others with interests in international relations, social policy-making, and the law.
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The Politics of Structural Reforms

Social and Industrial Policy Change in Italy and Japan

Author: Hideko Magara,Stefano Sacchi

Publisher: Edward Elgar Publishing

ISBN: 0857932934

Category: Business & Economics

Page: 240

View: 9563

This innovative volume will be an excellent resource for political scientists specialized in political economy and industrial relations, labour economists and sociologists as well as policy practitioners and corporate governance specialists. Moreover,
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Can Democracy Survive Global Capitalism?

Author: Robert Kuttner

Publisher: W. W. Norton & Company

ISBN: 0393609960

Category: Business & Economics

Page: 368

View: 336

One of our leading social critics recounts capitalism’s finest hour, and shows us how we might achieve it once again. In the past few decades, the wages of most workers have stagnated, even as productivity increased. Social supports have been cut, while corporations have achieved record profits. Downward mobility has produced political backlash. What is going on? Can Democracy Survive Global Capitalism? argues that neither trade nor immigration nor technological change is responsible for the harm to workers’ prospects. According to Robert Kuttner, global capitalism is to blame. By limiting workers’ rights, liberating bankers, allowing corporations to evade taxation, and preventing nations from assuring economic security, raw capitalism strikes at the very foundation of a healthy democracy. The resurgence of predatory capitalism was not inevitable. After the Great Depression, the U.S. government harnessed capitalism to democracy. Under Roosevelt’s New Deal, labor unions were legalized, and capital regulated. Well into the 1950s and ’60s, the Western world combined a thriving economy with a secure and growing middle class. Beginning in the 1970s, as deregulated capitalism regained the upper hand, elites began to dominate politics once again; policy reversals followed. The inequality and instability that ensued would eventually, in 2016, cause disillusioned voters to support far-right faux populism. Is today’s poisonous alliance of reckless finance and ultranationalism inevitable? Or can we find the political will to make capitalism serve democracy, and not the other way around? Charting a plan for bold action based on political precedent, Can Democracy Survive Global Capitalism? is essential reading for anyone eager to reverse the decline of democracy in the West.
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The BRICs and Emerging Economies in Comparative Perspective

Political Economy, Liberalisation and Institutional Change

Author: Uwe Becker

Publisher: Routledge

ISBN: 1134647107

Category: Political Science

Page: 240

View: 1959

In the past ten to twenty years the global political economy picture has dramatically changed with the emergence of the economies of Brazil, Russia, India and, notably, China (BRICs) as big players and competitors of the advanced economies in the West and Eastern Asia. The book comparatively analyses institutional change in the BRICs. This book examines the BRICs by analysing their institutional development, their main continuities and changes, and their differences. It provides a comparative analysis of the political economies of the BRICs, but also considers South Africa and Turkey. The contributors provide a systematic comparison of the state-economy and the capital-labour relationships and explore whether they liberalized or followed a specific trajectory. The book also addresses debates on the varieties of capitalism and explores whether the emerging economies fit into the dichotomous construction of liberal and coordinated capitalism or whether they require a more differentiated typological approach. Moving away from rigid conceptions and the static classification of political economies as either liberal or coordinated and presenting a more open approach, The BRICs and Emerging Economies in Comparative Perspective will be vital reading for students and scholars of comparative political economy, international relations, capitalism, the BRICs, emerging markets and the role of the state in the economy.
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Trade, Development and Globalization

Author: Syed Javed Maswood

Publisher: Routledge

ISBN: 1135142319

Category: Political Science

Page: 200

View: 7478

This book provides a longitudinal study of developing country involvement in multilateral trade negotiations. The trade regime established at the end of the Second World War did not cater for, and in some cases excluded, the developmental interests of the newly independent countries. This book offers a detailed analysis of: The first attempts to revise the trade regime in the 1960s through the United Nations Conference on Trade and Development and the formation of the Group of 77 to enhance their bargaining potential. The mixed coalition strategy, with the Cairns Group in the Uruguay Round of GATT. The new bargaining coalition, the Group of Twenty, that took on a much more confrontational and assertive bargaining position in the unsuccessful Doha round of the World Trade Organization. In part two, the author explores the possibility that economic globalization may finally deliver to developing countries what they had failed to achieve in five decades of multilateral negotiations - an opportunity to climb the industrialization ladder and achieve development. The book offers a proposal for revising the format of trade negotiations in a way that helps overcome stalemates and deadlocks. Trade, Development and Globalization will be of interest to students and scholars of international trade, trade and development, negotiation, global governance, political economy, international relations and economics.
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The Challenge of Global Capitalism

The World Economy in the 21st Century

Author: Robert Gilpin

Publisher: Princeton University Press

ISBN: 0691186472

Category: Business & Economics

Page: N.A

View: 2394

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False Dawn

The Delusions of Global Capitalism (Large Print 16pt)

Author: John Gray

Publisher: ReadHowYouWant.com

ISBN: 1459603214

Category:

Page: 464

View: 5829

powerful and prophetic challenge to globalization from a former partisan of the New Right. Hailed by Kirkus Reviews as both ''a convincing analysis of an international economy '' and a ''powerful challenge to economic orthodoxy, '' False Dawn shows that the attempt to impose the Anglo-American-style free market on the world will create a disaster, possibly on the scale of Soviet communism. Even America, the supposed flagship of the new civilization, risks moral and social disintegration as it loses ground to other cultures that have never forgotten that the market works best when it is embedded in society. John Gray, well known in the 1980s as an important conservative political thinker, whose writings were relied upon by Margaret Thatcher and the New Right in Britain, has concluded that the conservative agenda is no longer viable. In his examination of the ripple effects of the economic turmoil in Russia and Asia on our collective future, Gray provides one of the most passionate polemics against the utopia of the free market since Carlyle and Marx.
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State Capitalism

How the Return of Statism is Transforming the World

Author: Joshua Kurlantzick

Publisher: Oxford University Press

ISBN: 0199385726

Category: Political Science

Page: N.A

View: 8662

The end of the Cold War ushered in an age of American triumphalism best characterized by the "Washington Consensus:" the idea that free markets, democratic institutions, limitations on government involvement in the economy, and the rule of law were the foundations of prosperity and stability. The last fifteen years, starting with the Asian financial crisis, have seen the gradual erosion of that consensus. Many commentators have pointed to the emergence of a powerful new rival model: state capitalism. In state capitalist regimes, the government typically owns firms in strategic industries. Not beholden to private-sector shareholders, such firms are allowed to operate with razor-thin margins if the state deems them strategically important. China, soon to be the world's largest economy, is the best known state capitalist regime, but it is hardly the only one. In State Capitalism, Joshua Kurlantzick ranges across the world--China, Thailand, Brazil, Russia, South Africa, Turkey, and more--and argues that the increase in state capitalism across the globe has, on balance, contributed to a decline in democracy. He isolates some of the reasons for state capitalism's resurgence: the fact that globalization favors economies of scale in the most critical industries, and the widespread rejection of the Washington Consensus in the face of the problems that have plagued the world economy in recent years. That said, a number of democratic nations have embraced state capitalism, and in those regimes, state-backed firms like Brazil's Embraer have enjoyed considerable success. Kurlantzick highlights the mixed record and the evolving nature of the model, yet he is more concerned about the negative effects of state capitalism. When states control firms, whether in democratic or authoritarian regimes, the government increases its advantage over the rest of society. The combination of new technologies, the perceived failures of liberal economics and democracy in many developing nations, the rise of modern kinds of authoritarians, and the success of some of the best-known state capitalists have created an era ripe for state intervention. State Capitalism offers the sharpest analysis yet of what state capitalism's emergence means for democratic politics around the world.
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Global Capitalism and the Crisis of Democracy

Author: Jerry Harris

Publisher: N.A

ISBN: 9780986085321

Category:

Page: 245

View: 4530

Democracy is in crisis, from the streets of Ferguson to the struggle in Greece. Throughout the world millions suffer under neo-liberalism and austerity but are unable to force their governments to address their needs. Fundamentally, democracy is about the relationships between the state, markets and civil society. Attempts to artificially repress the functions of any of these institutions result in political, social and economic problems that lead to irresolvable contradictions and eventual failure. This book undertakes the examination of capitalist democracy, globalization, and the emergence of a transnational capitalist class needed to develop a strategy for implementing democracy beyond its current impasse. Early capitalism contained the contradiction between property rights and popular democracy. The American and French revolutions saw an alliance between the capitalist class, farmers, craft workers and laborers. Democracy was a class compromise, based on the political balance between the masses and the new ruling elite. This tension has set in motion the continual conflict over democratic rights. As the transnational capitalist class coalesced into a hegemonic bloc, their project was to reengineer the national state to serve global markets and suppress democratic input from civil society. This has led to a growing social crisis that cannot be resolved by global capitalism.Socialism emerged as the alternative to capitalism, promising economic equality and social justice. But the Soviet system centralized power into the state, suppressing both civil society and the market. This created fundamental economic and social contradictions. Eventually the failure of an internal transformation led to collapse. As for anarchism, its theory ignores the role of the state and rejects the market, creating a limited ideology of social change that fails to create a viable alternative.A successor system must recognize the relationships between the state, markets and civil society, seeking to balance naturally occurring contradictions through the practice and renewal of democratic institutions. Conflicts are not an indication of a dysfunctional society, but of a vibrant, adaptable and open society. The key is recognizing horizontal democracy as the structure for resolving conflicts. Worker ownership and cooperatives may be the first step in constructing such a society, alongside sustainable economics, protagonistic democracy and governmental public financing.
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The Theory of Social Democracy

Author: Thomas Meyer

Publisher: John Wiley & Sons

ISBN: 0745654614

Category: Political Science

Page: 288

View: 7131

The ascendancy of neo-liberalism in different parts of the world has put social democracy on the defensive. Its adherents lack a clear rationale for their policies. Yet a justification for social democracy is implicit in the United Nations Covenants on Human Rights, ratified by most of the worlds countries. The covenants commit all nations to guarantee that their citizens shall enjoy the traditional formal rights; but they likewise pledge governments to make those rights meaningful in the real world by providing social security and cultural recognition to every person. This new book provides a systematic defence of social democracy for our contemporary global age. The authors argue that the claims to legitimation implicit in democratic theory can be honored only by social democracy; libertarian democracies are defective in failing to protect their citizens adequately against social, economic, and environmental risks that only collective action can obviate. Ultimately, social democracy provides both a fairer and more stable social order. But can social democracy survive in a world characterized by pervasive processes of globalization? This book asserts that globalization need not undermine social democracy if it is harnessed by international associations and leavened by principles of cultural respect, toleration, and enlightenment. The structures of social democracy must, in short, be adapted to the exigencies of globalization, as has already occurred in countries with the most successful social-democratic practices.
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Are There Varieties of Capitalism in African Political Economies?

Author: Christoph Vogel

Publisher: GRIN Verlag

ISBN: 3656047766

Category:

Page: 64

View: 6620

Seminar paper from the year 2009 in the subject Politics - International Politics - Region: Africa, grade: 1,7, University of Cologne (Forschungsinstitut fur Politische Wissenschaft und Europaische Fragen), course: Comparative Political Economy: Varieties of Capitalism, language: English, abstract: Since the last decade scientific research on capitalism has experienced a noticeably grown attention among scholars as well as politicians. One of the most discussed approaches in this field of comparative analysis of political economy is the 'varieties of capitalism' theory1 developed by Peter Hall and David Soskice. Their approach basically focuses on how different actors may behave in a certain politico-economic state configuration and on how far this configuration can determine a national type or variety of capitalism as well as the economic success of a political economy. This approach, though, has been designed with a view to the so-called 'developed economies', which are to be found in Western and Central Europe as well as in North America. In the era of globalization other economies have come into play, with their performances ranging from real success stories, as in several Asian economies, to considerable failure, as in most marginalized Sub-Saharan African economies. After presenting Hall and Soskice's approach and some of its criticisms in order to give a conceptual framework, this paper will provide a very brief overview of the political economy of colonialism, followed by a case-study analysis of the contemporary political economies of Uganda and the Democratic Republic of Congo (DRC). The main research question is to identify to which extent varieties of capitalism imported from colonial powers have fashioned today's economies in the chosen cases as 'economic models' or how far the empirically established colonial economic systems are responsible for post-colonial developments. The former colonial power in Uganda, Great Britain, will be considered as a Libe
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Varieties of Capitalism in Asia

Beyond the Developmental State

Author: David Hundt,Jitendra Uttam

Publisher: Springer

ISBN: 1349589748

Category: Political Science

Page: 283

View: 2720

This book devises an innovative new way of explaining how socioeconomic orders shape capitalism in Asia. Hundt and Uttam go beyond both the ‘varieties of capitalism’ approach, which is mainly used to analyse Western capitalism, and the 'developmental state' thesis, which is the primary framework for analysing capitalism in Asia, and propose a new and innovative approach to the emergence of capitalist systems. Rather than focusing solely or predominantly on the state, they argue, it is necessary to bring society back in to an analysis of capitalism. The authors apply this approach to case studies from across the region: Japan; South Korea and Taiwan; Hong Kong and Singapore; Malaysia and Thailand; and India and China. This volume will appeal to historians, political scientists and economists, as well as policymakers, who are interested in the transformation of the Asian region since World War II.
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Varieties of Capitalism

The Institutional Foundations of Comparative Advantage

Author: Peter A. Hall,David Soskice

Publisher: OUP Oxford

ISBN: 0191647705

Category: Business & Economics

Page: 570

View: 1441

What are the most fundamental differences among the political economies of the developed world? How do national institutional differences condition economic performance, public policy, and social well-being? Will they survive the pressures for convergence generated by globalization and technological change? These have long been central questions in comparative political economy. This book provides a new and coherent set of answers to them. Building on the new economics of organization, the authors develop an important new theory about which differences among national political economies are most significant for economic policy and performance. Drawing on a distinction between 'liberal' and 'coordinated' market economies, they argue that there is more than one path to economic success. Nations need not converge to a single Anglo-American model. They develop a new theory of 'comparative institutionaladvantage' that transforms our understanding of international trade, offers new explanations for the response of firms and nations to the challenges of globalization, and provides a new theory of national interest to explain the conduct of nations in international relations. The analysis brings the firm back into the centre of comparative political economy. It provides new perspectives on economic and social policy-making that illuminate the role of business in the development of the welfare state and the dilemmas facing those who make economic policy in the contemporary world. Emphasizing the 'institutional complementarities' that link labour relations, corporate finance, and national legal systems, the authors bring interdisciplinary perspectives to bear on issues of strategic management, economic performance, and institutional change. This pathbreaking work sets new agendas in the study of comparative political economy. As such, it will be of value to academics and graduate students in economics, business, and political science, as well as to many others with interests in international relations, social policy-making, and the law.
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Islamic Globalization

Pilgrimage, Capitalism, Democracy, and Diplomacy

Author: N.A

Publisher: World Scientific

ISBN: 9814508446

Category: Political Science

Page: 302

View: 5188

Islamic Globalization examines the Muslim world''s growing importance in creating a more inclusive international system that is increasingly multipolar and multicultural. The author describes an emerging pattern of Islamic globalization as a series of transformations in four interrelated areas OCo pilgrimage and religious travel, capitalism and Islamic finance, democracy and Islamic modernism, and diplomacy and great power politics. The book integrates the disciplines of religion, politics, economics, law, and international relations highlighting developments in the Middle East, South Asia, Southeast Asia, and Africa. It provides new insights into the rapidly growing ties between China and the Islamic world, exploring their likely impact on the balance of power in Eurasia and beyond.
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Carbon Democracy

Political Power in the Age of Oil

Author: Timothy Mitchell

Publisher: Verso Books

ISBN: 1781681163

Category: Political Science

Page: 292

View: 6972

Carbon Democracy provides a unique examination of the relationship between oil and democracy. Interweaving the history of energy, political analysis, and economic theory, Mitchell targets conventional wisdom regarding energy and governance. Emphasizing how oil and democracy have intermixed, he argues that while coal provided the impetus for mass democracy, the shift to oil drastically limited democratic possibility; above all, the ability to confront contemporary ecological crises.
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Capitalism and Freedom

Fortieth Anniversary Edition

Author: Milton Friedman

Publisher: University of Chicago Press

ISBN: 9780226264189

Category: Business & Economics

Page: 230

View: 1493

Selected by the Times Literary Supplement as one of the "hundred most influential books since the war" How can we benefit from the promise of government while avoiding the threat it poses to individual freedom? In this classic book, Milton Friedman provides the definitive statement of his immensely influential economic philosophy—one in which competitive capitalism serves as both a device for achieving economic freedom and a necessary condition for political freedom. The result is an accessible text that has sold well over half a million copies in English, has been translated into eighteen languages, and shows every sign of becoming more and more influential as time goes on.
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Democracy's Dilemma

Environment, Social Equity, and the Global Economy

Author: Robert C. Paehlke,Robert Paehlke

Publisher: MIT Press

ISBN: 9780262661881

Category: Political Science

Page: 306

View: 7048

A call for the balancing of economic, environmental, and social concerns in the age of global economic integration.
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The Evolution of Economic Systems

Varieties of Capitalism in the Global Economy

Author: Barry Clark

Publisher: Oxford University Press, USA

ISBN: 9780190260590

Category:

Page: 400

View: 3740

The most current text of its kind, The Evolution of Economic Systems: Varieties of Capitalism in the Global Economy explores the effects of politics and culture on the nature of national economic systems. Author Barry Clark distills recent academic work in such areas as comparative political economy, varieties of capitalism, new and old institutional economics, new economic sociology, and social systems of production, presenting the material in a conversational manner that makes it accessible for undergraduate students.
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Worlds of Capitalism

Institutions, Economic Performance and Governance in the Era of Globalization

Author: Max Miller

Publisher: Routledge

ISBN: 1134274025

Category: Business & Economics

Page: 256

View: 6953

Efforts to combine the outstanding economic performance in the decades following the Second World War with social security appear to be endangered half way through the first decade of the 21st century. This book draws together an international team of contributors, including Douglass North, Harold Demsetz and Michael Piore to assess the current world order.
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