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The Futures of European Capitalism$
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Vivien A. Schmidt

Print publication date: 2002

Print ISBN-13: 9780199253685

Published to Oxford Scholarship Online: November 2003

DOI: 10.1093/0199253684.001.0001

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Conclusion: The Futures of European Capitalism

Conclusion: The Futures of European Capitalism

(p.303) Conclusion: The Futures of European Capitalism
The Futures of European Capitalism

Vivien A. Schmidt (Contributor Webpage)

Oxford University Press

With regard to changes in policies, the book concludes that while countries have internationalized at different rates to varying degrees in different ways—with ‘internationalization’ rather than ‘globalization’, the better word to describe the process—Europeanization is a much stronger process, leading to much greater similarities in policies, even though differences remain. Moreover, Europeanization affects not only economic policies but also practices. Although nationally based varieties of capitalism continue to predominate today, in the future industrial sector‐based varieties reflecting the most internationally competitive of national varieties are more likely in an increasingly integrated Europe. As for discourse, these are certain to remain distinct even as they may serve to legitimate policies that are more and more similar and practices that are increasingly differentiated in terms of industrial sectors rather than national varieties of capitalism.

Keywords:   competition, discourse, European integration, Europeanization, globalization, industrial sector, internationalization, policy change, varieties of capitalism

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