Systemic Change: Five Parallel Trajectories
First, this chapter summarizes the five narratives concerning collective bargaining and wage setting, intermediary organization, social policy, public finance, and corporate governance and then points out how these independent yet interrelated institutional settings have intersected in a number of points. The differences between the conditions in all five situations, both before and after the period, may be seen as less fundamental since collective bargaining in Germany is still more organized than in other countries, social welfare is still high in Germany, and there still are certain governing institutions that control most German companies. This chapter then explains why there is a need to understand systemic change and how shifting from a sectoral to a systemic perspective gives a new light to institutional analysis.
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