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Ideas, Institutions and Organized Captitalism: Germany, Europe and 21st Century Economic Policy Models |
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Abstract:
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A great deal of scholarship in the past decade suggests that the “German Model” – and by implication other coordinated market economies (CME) – can no longer withstand the pressures of globalization, a market-driven European Union, and – in the German case – the lingering and substantial costs of German unification. More broadly, critics of organized capitalism have resurrected theoretical arguments that these kinds of institutional coordination are no match for the supposedly more mobile and more flexible liberal market economies (LME). This paper inquires whether such a view misunderstands the logic that generated and sustained the CME model in Germany and elsewhere in continental Europe in both the late 19th and mid 20th centuries. In doing so, the paper goes beyond those studies that focus only on the decline of this model to focus on the logic of the ideas and institutions that generated these models in the first place. To adequately ascertain whether CME economies can adapt themselves to the 21st century, we need to understand how earlier incarnations of these models emerged as well as declined. One of three outcomes is possible: 1) a failure to renew this institutional and ideational model and a full turn to neoliberalism in the CME countries; 2) an odd hybrid of market/organized capitalist models in the CME countries in which no one path is hegemonic; or 3) a 21st century renewal of an organized model using a logic of adaptive and transformative institutions and ideas. In doing so it would follow a pattern based more on the spirit rather than the letter of these earlier institutional models. Based upon an analysis of the earlier two periods, the paper uses path dependence and historical institutionalism to determine what the rise and fall of the two earlier versions of the models can tell us about institutional adaptation in early 21st century capitalism. |
Most Common Document Word Stems:
institut (107), polit (90), model (79), german (54), capit (48), economi (45), univers (41), organ (37), press (36), market (36), centuri (36), germani (34), econom (33), european (33), idea (32), social (31), new (30), industri (30), compar (28), histor (27), would (26), |
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organized capitalism, historical institutionalism, path dependence, coordinated market economies, ideas, Germany, Europe |
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Name: American Political Science Association URL: http://www.apsanet.org
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Citation:
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MLA Citation:
| Allen, Christopher. "Ideas, Institutions and Organized Captitalism: Germany, Europe and 21st Century Economic Policy Models" Paper presented at the annual meeting of the American Political Science Association, Marriott Wardman Park, Omni Shoreham, Washington Hilton, Washington, DC, Sep 01, 2005 <Not Available>. 2011-03-14 <http://www.allacademic.com/meta/p42274_index.html> |
APA Citation:
| Allen, C. S. , 2005-09-01 "Ideas, Institutions and Organized Captitalism: Germany, Europe and 21st Century Economic Policy Models" Paper presented at the annual meeting of the American Political Science Association, Marriott Wardman Park, Omni Shoreham, Washington Hilton, Washington, DC Online <APPLICATION/PDF>. 2011-03-14 from http://www.allacademic.com/meta/p42274_index.html |
Publication Type: Conference Paper/Unpublished Manuscript Review Method: Peer Reviewed Abstract: A great deal of scholarship in the past decade suggests that the “German Model” – and by implication other coordinated market economies (CME) – can no longer withstand the pressures of globalization, a market-driven European Union, and – in the German case – the lingering and substantial costs of German unification. More broadly, critics of organized capitalism have resurrected theoretical arguments that these kinds of institutional coordination are no match for the supposedly more mobile and more flexible liberal market economies (LME). This paper inquires whether such a view misunderstands the logic that generated and sustained the CME model in Germany and elsewhere in continental Europe in both the late 19th and mid 20th centuries. In doing so, the paper goes beyond those studies that focus only on the decline of this model to focus on the logic of the ideas and institutions that generated these models in the first place. To adequately ascertain whether CME economies can adapt themselves to the 21st century, we need to understand how earlier incarnations of these models emerged as well as declined. One of three outcomes is possible: 1) a failure to renew this institutional and ideational model and a full turn to neoliberalism in the CME countries; 2) an odd hybrid of market/organized capitalist models in the CME countries in which no one path is hegemonic; or 3) a 21st century renewal of an organized model using a logic of adaptive and transformative institutions and ideas. In doing so it would follow a pattern based more on the spirit rather than the letter of these earlier institutional models. Based upon an analysis of the earlier two periods, the paper uses path dependence and historical institutionalism to determine what the rise and fall of the two earlier versions of the models can tell us about institutional adaptation in early 21st century capitalism. |
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| Ideas Institutions and Organized Capitalism: Germany Europe and 21st Century Economic Policy Models Christopher S. Allen Department of International Affairs School of Public and International Affairs 322 Candler Hall University of Georgia Athens GA 30602-1492 csallen@uga.edu http://www.arches.uga/~csallen 706-542-2984 Paper presented at the Annual Meetings of the American Political Science Association Washington DC September 1-4 2005 Work in progress comments most welcome. 2 Abstract A great deal of scholarship in the past decade suggests that the “German Model” – and |
| Ithaca NY: Cornell University Press. Vitols S. (2001). The origins of bank-based and market-based financial systems: Germany japan and the united states. In W. Streeck & K. Yamamura (Eds.) The origins of nonliberal capitalism: Germany and japan in comparison (pp. 171- 199). Ithaca: Cornell University Press. Vogel E. F. & Lodge G. C. (Eds.). (1987). Ideology and national competitiveness: An analysis of nine countries. Boston Mass.: Harvard Business School Press. Yamamura K. & Streeck W. (Eds.). (2003). The end |
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