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The Diversity of Modern Capitalism$
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Bruno Amable

Print publication date: 2003

Print ISBN-13: 9780199261130

Published to Oxford Scholarship Online: July 2005

DOI: 10.1093/019926113X.001.0001

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A Comparative Analysis of Capitalism

A Comparative Analysis of Capitalism

(p.74) 3 A Comparative Analysis of Capitalism
The Diversity of Modern Capitalism

Bruno Amable (Contributor Webpage)

Oxford University Press

This chapter presents comparative analysis of capitalism based on the theory of institutions as political equilibriums and concepts of institutional complementarity and hierarchy discussed in chapter 2. It presents five possible models of capitalism (market-based economies, Social-Democratic economies, Asian capitalism, Continental European capitalism, and South European capitalism), and the set of institutional complementarities between five institutional forms that these models are based on. It argues that no single developed economy is accurately described by any of the five models of capitalism, which are ideal types. They may possess characteristics which make them close to one or the other model, without being fully identifiable with the model itself.

Keywords:   institutional complementarities, market-based economies, Social-Democratic economies, Asian capitalism, Continental European capitalism, South European capitalism

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