Jump to ContentJump to Main Navigation
Compound DemocraciesWhy the United States and Europe Are Becoming Similar$
Users without a subscription are not able to see the full content.

Sergio Fabbrini

Print publication date: 2007

Print ISBN-13: 9780199235612

Published to Oxford Scholarship Online: May 2008

DOI: 10.1093/acprof:oso/9780199235612.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2019. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 21 September 2019

Alternative paths to a modern social order: territoriality, market, and welfare in America and Europe

Alternative paths to a modern social order: territoriality, market, and welfare in America and Europe

Chapter:
(p.80) 4 Alternative paths to a modern social order: territoriality, market, and welfare in America and Europe
Source:
Compound Democracies
Author(s):

Sergio Fabbrini (Contributor Webpage)

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199235612.003.0004

This chapter analyzes the development of a market economy and welfare system in both America and Europe. America and European nation-states have followed radically different paths of market-building. The institutionalizations of these different paths have constrained the strategies for dealing with the negative effects of the operation of the market. Since the turn of the 19th century, America has built a regulatory state, that is, an institutional apparatus designed to pursue market-correcting strategies. At the same time, even after World War II, the single European nation-states have continued to pursue market-substituting strategies, that is, they created institutional apparatuses for implementing some form of public control of the economy. It was within this different structuring of the relations between the market and the state that different types of welfare systems have developed on the two shores of the Atlantic.

Keywords:   market economy, welfare system, power, market-building, market-correcting strategies, market-substituting strategies

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .