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Stock Market Capitalism: Welfare Capitalism
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Stock Market Capitalism: Welfare Capitalism: Japan and Germany versus the Anglo-Saxons

Ronald Dore

Abstract

This is a book about Washington Consensus capitalism and the controversies its encroachment causes in Japan and Germany. Many people in both those countries share the assumptions dominant today in Britain and America that managers should be intent solely on creating shareholder value, and that shareholders' financial logic alone should determine who buys what company on the stock exchange. That way efficiency (and hence global welfare) will be maximized. Japanese and German advocates of full-bloodied market capitalism are not having it all their own way, however. In both countries there are ar ... More

Keywords: Washington Consensus, capitalism, shareholder, financial logic, stock exchange, efficiency, global welfare, corporate governance, worker rights, supplier relations

Bibliographic Information

Print publication date: 2000 Print ISBN-13: 9780199240623
Published to Oxford Scholarship Online: October 2011 DOI:10.1093/acprof:oso/9780199240623.001.0001

Authors

Affiliations are at time of print publication.

Ronald Dore, author
London School of Economics, and Visiting Professor at INSEAD

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