The economic crisis that began in 2008 has underscored the impact not only of embedded and assumed ways of managing the economy, but also that present circumstances are the product of a long period of experimentation and bounded diversity; it is understanding the nature of both that forms a central concern of this collection. This book redefines, develops and extends the emerging literature on internal diversity within varieties of capitalism, and the extent to which such internal systemic diversity goes beyond mere diffuseness to represent the coexistence of different logics of action within both liberal market and more cooperative varieties of capitalism.
The collection is based on new, fresh material, from leading scholars in the field. The contributors come from a variety of perspectives within the broad socio-economic literature on institutions, and yet they all focus on the limitations of current institutional fixes, and the protracted and durable nature of the current crisis, which, the editors suggest, reflect profound changes in input costs and the utilization of technology. What characterizes this common ground is an inherent pragmatism, combined with an increasing sophistication in the usage of analytical concepts; illustrating the progression since the early work on comparative capitalism in the late 1990s and early 2000s.
This book should be an invaluable resource for students and researchers of economic theory and philosophy as well as political economics and socio-economics.
Preface Christel Lane and Geoffrey Wood 1. Institutions, Change and Diversity Geoffrey Wood and Christel Lane 2. A New Epoch but Still Diversity Within and Between Capitalism: China in Comparative Perspective Robert Boyer 3. Institutional Change and Organizational Diversity in Japan Mari Sako and Masahiro Kotosaka 4. Capabilities, Sectors and Institutions: The Influence of Sectoral Variations and Dominant Institutions on Firms’ Responses to Increasing Internationalisation Matthew Allen and Richard Whitley 5. The Differential Impact of Financialisation in Germany and the UK Richard Deeg 6. The Shareholder Value Concept of the Corporation and Co-Determination in Germany: Unresolved Contradictions or Reconciliation of Institutional Logics? Michael Faust 7. Regions, Varieties of Capitalism and the Legacies of Neoliberalism Ray Hudson 8. Rethinking the Diversity and Variability of Capitalism: On Variegated Capitalism in the World Market Bob Jessop