Deducing Varieties Of Capitalism
Source: Munich Personal Repec Archive
One of the key criticisms made of the Varieties of Capitalism perspective advanced by Hall and Soskice (2001) is that it is functionalist. Here, the author offers a deductive model of capitalism that is consistent with their framework. Specifically, the author deduces 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, the author derives seven capitalist ideal-types that fall along the LME-CME spectrum.