02 Varieties of capitalism

02 Varieties of capitalism - consistent with specific...

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VARIETIES OF CAPITALISM I. Changing and varying relationships of business, labor, gov’t A. Eco outcomes: performance B. Pol outcomes: policies II. The broad typology: liberal market ecos v. social/coordinated ecos A. Size of gov’t (% of national income consumed) B. Social service provision C. Union density (% of labor force unionized) D. Ownership structure E. Etc.
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III. How many varieties are there? Two… or more? A. Coherent? Differences among LMEs and among SMEs bigger than between LME/SME B. More than 2 1. Pontusson: Liberal, Nordic, Continental 2. US v. other Anglo-Saxon ecos 3. Liberal, Social, Statist (“Latin” model)? C. Describe economies…or regional specializations: no “pure” models 1. Mfg. v. services 2. “Blue” states v. “red” states?
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D. Change over time IV. Issues and questions A. What are characteristics of the different “models” of capitalism? B. How can we explain the differences? C. Are the general models
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Unformatted text preview: consistent with specific cases/countries? D. Are the varieties stable alternatives to each other, or are witnessing a (gradual) convergence? If so, are the social economies becoming more like liberal market economiesor are liberal market economies moving towards the social model? V. What does any of this have to do with the 2008 financial meltdown and The Great Recession? A. If underlying cause of crisis financial (underpricing of risk) 1. Careless lending 2. Excess saving abroad B. If underlying cause of crisis distribution: dynamics of real eco, not just financial fun, as cause 1. Stagnant real wages; growing inequality 2. Socially acceptable standard of living requires borrowing (housing, transport, school, health care, general consumption) 3.Not an accident that LMEs hardest hit, originate crisis...
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This note was uploaded on 04/18/2011 for the course POLI 126AA taught by Professor Ellencomisso during the Spring '11 term at UCSD.

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02 Varieties of capitalism - consistent with specific...

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