Unformatted text preview: reason is that is that any model of change has to take in consideration political aspects of the economy and different interest groups that influence political decisions. The party system is very important in this. CME’s are controlled by social democrats and / or Christian democrats. They are very committed to large welfare states and coordinated business. The institutional veto points (like checks and balances system in the USA) will also have influence on on changing of economies. This is true because this gives the power to people to block some policies and initiatives. This prevents a single party from gaining too much power in any economy / nation. All these arguments blend together in the fact that these neo institutionalists argue that globalization will not cause all the capitalist economies to become the same sort of liberal economy....
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- Spring '08
- Capitalism, CME, institutional veto points, consideration political aspects, large welfare states, sectoral CME