Political Economy of Modern Capitalism: Mapping Convergence and Diversity
Publication Year: 1997
Neoliberalism and deregulation have come to dominate national and international political economy. This major book addresses this convergence and analyzes the implications for the future of capitalist diversity. It considers important questions such as: Is the preference for free markets a well-founded response to intensified global competition? Does this mean that all advanced societies must all converge on an imitation of the United States? What are the implications for the institutional diversity of the advanced economies? Political Economy of Modern Capitalism provides a practical and informed analysis of the public policy choices facing governments and business around the world.
- Front Matter
- Back Matter
- Subject Index
- Introduction: The Future of Capitalist Diversity
- Chapter 1: The Distinctiveness of Japan
- Chapter 2: German Capitalism: Does it Exist? Can it Survive?
- Chapter 3: Between Neo-Liberalism and the German Model: Swedish Capitalism in Transition
- Chapter 4: French Statism at the Crossroads
- Chapter 5: Social Institutions and Production Structure: The Italian Variety of Capitalism in the 1980S
- Chapter 6: The UK 1979–95: Myths and Realities of Conservative Capitalism
- Chapter 7: The Institutional Embeddedness of American Capitalism
- Chapter 8: Following the Collapse of Communism, is There Still a Middle Way?
- Chapter 9: A Check to Enlightened Capitalism
- Chapter 10: International Finance and the Erosion of Capitalist Diversity
- Chapter 11: The Future of Global Capitalism; or, Will Divergence Persist Forever?
To the memory of Andrew Shonfield
Editorial selection, Preface, Introduction © Colin Crouch & Wolfgang Streeck, 1997
Chapter 1 © Ronald Dore, 1997
Chapter 2 © Wolfgang Streeck, 1997
Chapter 3 © Jonas Pontusson, 1997
Chapter 4 © Robert Boyer, 1997
Chapter 5 © Marino Regini, 1997
Chapter 6 © Andrew Graham, 1997
Chapter 7 © J. Rogers Hollingsworth, 1997
Chapter 8 © Jean-Paul Fitoussi, 1997
Chapter 9 © Philippe d'Iribarne, 1997
Chapter 10 © Philip G. Cerny, 1997
Chapter 11 © Susan Strange, 1997
Chapters 4, 8 and 9 translated from the French by Simon Lee
First published 1997
Originally published in French as Les capitalismes en Europe by La Decouverte, Paris, 1996.
All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, transmitted or utilized in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without permission in writing from the Publishers.
SAGE Publications Ltd
6 Bonhill Street
London EC2A 4PU
SAGE Publications Inc
2455 Teller Road
Thousand Oaks, California 91320
SAGE Publications India Pvt Ltd
32, M-Block Market
Greater Kailash – I
New Delhi 110 048
British Library Cataloguing in Publication data
A catalogue record for this book is available from the British Library
ISBN 0 7619 5652 2
ISBN 0 7619 5653 0 pbk)
Library of Congress catalog card number 97-068597
Typeset by Type Study, Scarborough
Printed in Great Britain by the Cromwell Press Ltd,
Broughton Gifford, Melksham, Wiltshire
List of Contributors[Page vii]
Robert Boyer is an economist, CNRS Director of Research, and Director of Studies at the Ecole des Hautes Etudes en Sciences Sociales in Paris. His present field of study is the performance and development of the labour market and the context of regulation. His publications include: Labour Market Flexibility in Europe, 1988; The ‘Regulation’School: A Critical Appraisal 1990; (with Jean-Pierre Durand) Post-Fordism, 1997; and (co-edited with Yves Saillard) Théorie de la regulation. L'état des savoirs, 1995.
Philip G. Cerny is Professor of International Political Economy at the University of Leeds and has a special interest in the liberalization of global markets. He has published: The Politics of Grandeur: Ideological Aspects of De Gaulle's Foreign Policy, 1980; Socialism, the State and Public Policy in France (with Martin A. Schaia), 1985; The Changing Architecture of Politics, 1990; and Finance and World Politics, 1993.
Colin Crouch is Professor of Comparative Social Institutions at the European University Institute of Florence, Professor of Sociology at the University of Oxford and a Fellow of Trinity College, Oxford. His area of study covers trade union organizations, industrial relations, occupational training and the social structure of western European countries. He has published: Class Conflict and the Industrial Relations Crisis, 1977; Trade Unions: the Logic of Collective Action, 1981; and Industrial Relations and European State Traditions, 1993.
Philippe d'Iribarne, who is Director of Research at the CNRS (Gestion et Société), is concerned with the cultural milieu relating to systems of production characterizing different countries. He is the author of La Logique de l'honneur. Gestion des enterprises et traditions nationales, 1989; Le Chômage paradoxal, 1990 and Vous serez tous les maîtres, 1996.
Ronald Dore is Senior Research Fellow at the Centre for Economic Performance, London School of Economics and Political Science, at which he was some time Professor of Sociology. He is a member of the British Academy, the Japan Academy and the American Academy of Arts. His publications include: British Factory: Japanese Factory, 1973; Flexible Rigidities, 1986; Taking Japan Seriously, 1987; and Will the Twenty-First Century be the Century of Individualism?, 1990.
Jean-Paul Fitoussi is an economist and teaches at the Institut d'Etudes Politiques in Paris. His publications include: Le Fondement micro-économique[Page viii]de la théorie Keynésienne, 1974; and (with E.S. Phelps) The Slump in Europe, 1988.
Andrew Graham is Fellow and Tutor in Economics at Balliol College, Oxford. He was economic adviser to the British Prime Minister 1966–69 and 1974–76, and to the Leader of the Labour Party 1992–94. With A. Seldon, he is co-editor of Governments and Economics in the Post-War World, 1990 and with Garyn Davies he is the co-author of Broadcasting, Society and Policy in the Multimedia Age, 1997.
J. Rogers Hollingsworth is Professor of Sociology and History at the University of Wisconsin, Madison, and the author of a number of books and articles on comparative political economy. With J.L. Campbell and L.N. Lindberg, he has co-edited The Governance of the American Economy, 1991; with P. Schmitter and W. Streeck, Governing Capitalist Economies, 1994; and with Robert Boyer, Contemporary Capitalism: The Embeddedness of Institutions, 1997.
Jonas Pontusson is Associate Professor of Government at Cornell University and specializes in the problems of political economies of the Scandanavian social-democratic type. His publications include The Limits of Social Democracy, 1992 and (co-edited with Miriam Golden) Bargainingfor Change: Union Politics in Europe and North America, 1992.
Marino Regini is Professor of Industrial Relations at the Università degli Studi, Milan, and has published numerous books and articles on industrial relations in Italy and other western European countries. These include: I dilemmi del sindacato, 1981; (with P. Lange) State Market and Social Regulation, 1989; and Uncertain Boundaries: The Social and Political Constitution of European Economies, 1995.
Susan Strange, Professor of International Political Economy at the University of Warwick. Formerly at the London School of Economics and European University Institute of Florence, she is one of the founders of the study of the international political economy. She has published several books, among them: Sterling and British Policy, 1977; Casino Capitalism, 1986; (with J.M. Stopford) Rival States, Rival Firms, 1991; States and Markets, 1988 and 1994; and The Retreat of the State, 1996.
Wolfgang Streeck is Co-Director of the Max-Planck Institut für Gesellschaftsforschung in Cologne and specializes in the sociology of economics and of labour. His publications include: (with P. Schmitter) Private Interest Government, 1985; (with R. Hyman) New Technology and Industrial Relations, 1988; Social Institutions and Economic Performance, 1992; (with J.R. Hollingsworth and P. Schmitter) Governing Capitalist Economies, 1994; (with J. Rogers) Works Councils: Consultation, Representation and Cooperation in Industrial Relations, 1995.
A full quarter century separates the publication of Andrew Shonfield's Modern Capitalism in 1965 and Michel Albert's Capitalisme contre Capitalisme in 1991, but in many respects the books are remarkably similar. Both are by men busily engaged in the world's affairs but capable of deep reflection on the wider implications of the changing economic environment. Both books rapidly had an impact on public debate in a number of countries. Both analysed and revealed the institutional underpinnings of government policy and social organization that are fundamental to the operation of economics but which are often ignored by academic economic science.
There is however a major difference in the economic climate within which these works appeared. When Shonfield was writing his immediate British public was keen to hear of new ways that economies might be managed other than through the stereotypical alternatives of free markets and state ownership – though the variety and subtlety of his discussion of national forms of capitalism tended to be temporarily lost in the general desire to concentrate on one form in particular: planification à la française. Ironically, the Frenchman, Albert, is less interested in his own country's specific approach than in the confrontation betweeninstitutional and freemarket capitalism, captured largely in a comparison between German and US models. But the main difference in the climate of the 1990s compared with the 1960s is that there is less sympathy, at least among elites, for discussions of institutional arrangements. The prevailing orthodoxy emphasizes neo-liberal policies, deregulation and flexible labour markets, and treats most other forms of economic institution as sources of rigidity and inefficiency. At the precise time of publication of Albert's book the mood was different, which was one reason why it attracted so much attention. Since 1992 however, in the wave of disillusion with the scope for constructive public policy-making that seemed to follow the Treaty of Maastricht, an uncritical neo-liberalism has come to dominate thinking in many national governments as well as in international organizations.
Why is this so? Is this convergence on a preference for free markets a well-founded or a panic response to intensified global competition? What are its likely implications for the institutional diversity of the advanced economies? Will they all converge on an imitation of the USA? How do the very different arguments that have led to attempts to imitate Japanese economic institutions relate to this?
It is to answer questions of this kind that this book has been prepared. Its origins lie in the different activities of two other thinking men active in [Page x]public life, and again an Englishman and a Frenchman. Sir Arthur Knight, with some associates, founded the Andrew Shonfield Association in the mid-1980s to try to bring together business people, people active in public life, journalists and academics to continue the kind of work that Shonfield had started in his several books: the practical but intellectually informed manalysis of the public policy issues facing business in western Europe and elsewhere at a time of rapid change in the global economy. It was within the framework of debates within the Association that the ideas in the present volume took shape. René Monory, past president of the Senate of France, chairman of the Conseil Régional de la Vienne, founded some years ago at Poitiers the Observatoire du Changement Social en Europe Occidentale, with similar objectives of bringing together academics and hommes des affaires to consider the future challenges confronting Western Europe. A joint initiative by the Association and the Observatoire enabled the editors to organize in October 1994 a seminar at the Observatoire in Poitiers and a larger conference in Paris, from which the chapters in this volume developed. We are indebted to all involved in both organizations, and to all who attended the two meetings, for having made our venture possible. The editors and individual contributors are of course solely responsible for the contents of the chapters, which do not necessarily reflect the views of others associated with either the Association or the Observatoire.CCWS
Bibliography[Page 192]Acs, Z.J. and Audretsch, D.B. (eds) (1993) Small Firms and Enterpreneur ship: An East-West Perspective. Cambridge: Cambridge University Press.1997) Regulation et crises du capitalisme. Paris: Odile Jacob.(1994) ‘A new regime?’, in W.Clement and R.Mahon (eds), Swedish Social Democracy. Toronto: Canadian Scholars Press, 233–44.and (1991) Capitalisme contre capitalisme. Paris: Le Seuil. Trans. Capitalism against Capitalism (1993). London: Whurr Publishers.(1989) ‘The underdevelopment of Keynesianism in the Federal Republic of Germany’, in P.Hall (ed.), The Political Power of Economic Ideas. Princeton: Princeton University Press. pp. 263–90.(1985) ‘The assessment: monetary and fiscal policy in the 1980s’, Oxford Review of Economic Policy, 1(1). http://dx.doi.org/10.1093/oxrep/1.1.1-a(1993) ‘The assessment: strategic policy dilemmas for the 1990s’, Oxford Review of Economic Policy, 9(3). http://dx.doi.org/10.1093/oxrep/9.3.1(1987) ‘The assessment: policy options for the UK’, Oxford Review of Economic Policy, 3(3). http://dx.doi.org/10.1093/oxrep/3.3.1-aand (1997) Les systèmes d'innovation à lére de la globalisation. Paris: Economica., and (1988) Information, Incentives and Bargaining in the Japanese Economy. Cambridge: Cambridge University Press. http://dx.doi.org/10.1017/CBO9780511571701(1992) Responsive Regulation: Transcending the Deregulation Debate. Oxford: Oxford University Press.and (1975) The Origins of Capitalism. Oxford: Blackwell.(1977) Tre Italie: la problematica territoriale dello sviluppo italiano. Bologna: Il Mulino.(1988) La costruzione sociale del mercato. Bologna: Il Mulino.(1994) PME et développement économique en Europe. Paris: La Découverte.and (1989) L'industria fra capitale e lavoro. Bologna: Il Mulino.and (Barrell, R (ed.) (1994) The UK Labour Market. Cambridge: Cambridge University Press.1995) ‘Output gaps. Some evidence from the UK, France and Germany’, National Institute Economic Review, 151, February.and (Becattini, G. (ed.) (1987) Mercato e forze locali: il distretto industriale. Bologna: Il Mulino.1980) Altriusm in the Family and Selfishness in the Market Place. Discussion paper no. 73. London: Centre for Labour Economics, LSE.(1979) ‘Régulation des économies capitalistes et inflation’, Revue économique, 30(3): 397–441. http://dx.doi.org/10.2307/3501230, and (1987) Les nouvelles règles de la production. Paris: Dunod.(1991) Von Ford zu Volvo: Automobilherstellung in Schweden. Berlin: Springerverlag.(1990) The New Competition. Oxford: Polity.(1994) ‘Labour market incentive structures and employee performance’, British Journal of Industrial Relations, 32(1). http://dx.doi.org/10.1111/j.1467-8543.1994.tb01132.x([Page 193]1968) La Société féodale. Paris: Albin Michel.(1986) La France restaurée 1944–1954. Paris: Fayard.and (1995) Data supplied to the author. Private communication.(1989) ‘Has Mrs Thatcher changed the British economy?’, Rivista di Politica Economica, year LXXIX, third series (IV).and (1992) ‘On the labor market effects of immigration and trade’, in R.B.Freeman and G.Borjas,Immigration and the Work Force: Economic Consequences for the United States and Source Areas. Chicago: University of Chicago Press. pp. 213–44, and (1987) ‘Libres propos autour d'une démarche révisionniste’, in P.Fridenson and A.Straus,Le capitalisme français. Paris: Fayard.(Boyer, R. (ed.) (1988) Labour Market Flexibility in Europe. Oxford: Oxford University Press.1986) La Théorie de la régulation: une analyse critique. Paris: La Découverte.(1987) ‘The eighties: the search for alternatives to Fordism’. Paper presented at the Sixth International Conference of Europeanists, Washington, DC, 30 October-1 November.(1990) The Regulation School: A Critical Appraisal. New York: Columbia University Press.(1991a) New Directions in Management Practices and Work Organisation. Paris: CEPREMAP.(Boyer, R. (ed.) (1991b) ‘Les Paradoxes de la crise française de l'entre-deux-guerres’, Le Mouvement social, special issue, 154.Boyer, R. and Dore, R. (eds) (1994) The Return to Incomes Policy. London: Pinter.1997) After Fordism. London: Macmillan.and (Boyer, R. and Saillard, Y. (eds) (1995) Théorie de la régulation: l'état des savoirs. Paris: La Découverte.1979) Civilisation matérielle, économie et capitalisme. Paris: Armand Colin.(1991) Contingent Work: A Case Book on Part-Time and Temporary Employment. Washington, DC: Economic Policy Institute, for the Institute for Women's Policy Research.and (1987) ‘Stato ed economia: il problema storico’, in P.Lange and M.Regini (eds), Stato e regolazione sociale. Bologna: Il Mulino.(CBI (1995) Industrial Trends Survey, April.CEDEFOP (1987) The Role of the Social Partners in Vocational Training in Italiy. Berlin: CEDEFOP.1989) ‘Criteria of regulation in Italian industrial relations: a case of weak institutions’, in P.Lange and M.Regini (eds), State, Market and Social Regulation. New Perspectives on Italy. Cambridge: Cambridge University Press. pp. 167–85.(1991) ‘The limits of deregulation: transnational interpenetration and policy change’, in P.G.Cerny, (ed.), The Politics of Transnational Regulation: Deregulation or Reregulation. Special issue of the European Journal of Political Research, 19(2&3), March/ April: 173–96.(Cerny, P.G. (ed.) (1993) Finance and World Politics: Markets, Regimes, and States in the Post-Hegemonic Era. Cheltenham: Edward Elgar. pp. 51–85.1997) ‘Paradoxes of the Competition State: The Dynamics of Political Globalization’, Government and Opposition, 32(2), Spring: 251–74. http://dx.doi.org/10.1111/j.1477-7053.1997.tb00161.x(1977) The Visible Hand: The Managerial Revolution in American Business. Cambridge: Harvard University Press.(1995) ‘Le changement de mode de régulation. Apports et limites de la formalisation’, in R.Boyer and Y.Saillard (eds), Théorie de la régulation: l'état des savoirs. Paris: La Découverte. pp. 273–81.(1962) Economic History of World Population. London: Penguin.(1970) The Economic Decline of Empires. London: Methuen.([Page 194]1978) The Japanese Company. New Haven: Yale University Press.(Committee on Public Accounts (1994) The Proper Conduct of Business. House of Commons Paper 154, Session 1993–4.1987) Production, Power and World Order: Social Forces in the Making of World History. New York: Columbia University Press.(1992) ‘Institutions and economic growth’, West European Politics, 15(1). Current Population Survey (annual). Washington, DC: Office of the Government Printer.(1994) ‘A UK supply side improvement?’. Report prepared for HM Treasury's Panel of Independent Forecasters. London: HMSO.(1993) The Growth of Government by Appointment: Implications for Local Democracy. Birmingham: INLOGOV.and (1983) L'État et l'économie. Paris: Le Seuil.and (1989) La Logique de l'honneur. Gestion des entreprises et traditions nationales. Paris: Points-Seuil.(1990) Le Chômage paradoxal. Paris: PUF.(1994) ‘L'économique et le social. La fin d'un dogme’, Commentaire, 66.(1986) Flexible Rigidities: Industrial Policy and Structural Adjustment in the Japanese Economy 1970–80. London: Athlone Press.(1987) Taking Japan Seriously. London: Athlone Press.(1993) ‘What makes the Japanese different?’, in C.Crouch and D.Marquand (eds), Ethics and Markets. Oxford: Blackwell.(1991) La Concurrence en Europe. Paris: Le Seuil. Economist Book of Vital Statistics (1990). London: The Economist.and (1990) The Three Worlds of Welfare Capitalism. Princeton: Princeton University Press.(Federal Republic of Germany (1991) Statistisches Jahrbuch for die Bundesrepublik Deutschland. Bonn: Government Publications Office.1994) ‘A global private regime for capital flows’. Paper presented to the annual conference of the British International Studies Association, University of York, December.(Financial Times (1994) ‘A survey of France’. 12 July. pp. I-VI.1980) Les Comptes de la puissance: histoire de la compatibilité nationale et du Plan. Clamecy: Editions Recherches.(1988) The Importance of What We Care About: Philosophical Essays. Cambridge: Cambridge University Press. http://dx.doi.org/10.1017/CBO9780511818172(1988) ‘Labour market institutions and economic performance’, Economic Policy: pp. 64–80.(1995) ‘The limits of wage flexibility to curing unemployment’, Oxford Review of Economic Policy, 11(1). http://dx.doi.org/10.1093/oxrep/11.1.63(1993) ‘How much has de-unionization contributed to the rise in male earnings inequality’, in S.Danziger and P.Gottschalk (eds), Uneven Tides: Rising Inequality in America. New York: Russell Sage.(1994) ‘How labor fares in advanced economies’, in R.B.Freeman (ed.), Working Under Different Rules. New York: Russell Sage Foundation.(1988) The Free Economy and the Strong State: The Politics of Thatcherism. London: Macmillan.(1992) A Cold Peace: America, Japan, and Germany, and the Struggle for Supremacy. New York: Twentieth Century Fund.(1994) ‘Collective Bargaining and Industrial Change: A Case of Disorganization?’ Ms.(1995) The UK Economics Analyst, May.(1993a) International Capital Markets. Part I, Exchange Rate Management and International Capital Flows. Washington, DC: International Monetary Fund., et al. ([Page 195]1993b) International Capital Markets. Part II, Systemic Issues in International Finance. Washington, DC: International Monetary Fund., et al. (1994) For Richer, For Poorer. The Changing Distribution of Income in the United Kingdom, 1961–1991. Institute for Fiscal Studies Commentary, 42.and (1993) The Embedded Firm. London: Routledge.(1994) ‘Did Keynesianism Work?’, in S.Pollard (ed.), Jobs and Growth: The International Perspective. London: Fabian/Unison Special.(1992) Money of the Mind: Borrowing and Lending in America from the Civil War to Michael Milken. New York: Farrar Straus Giroux.(1994) The Undoing of Conservatism. London: Social Market Foundation.(1995) ‘A short history of labour turnover, job tenure, and job security, 1975–93’, Oxford Review of Economic Policy, 11(1). http://dx.doi.org/10.1093/oxrep/11.1.73and (1968) Origine et espoirs de la planification française. Paris: Dunod.(1990) Jämlikhet och frihet. Stockholm: Almqvist & Wicksell.(1988) ‘On market economics’, in R.Skidelsky (ed.), Thatcherism. London: Chatto and Windus.(1985) Powers and Liberties: The Causes and Consequences of the Rise of the West. Oxford: Blackwell.(1986) Governing the Economy: The Politics of State Intervention in Britain and France. Oxford: Polity.(1991) Manufacturing Skills: Institutionalizing Vocational Education and Training in the United States and Germany, 1870–1918. Madison: Department of History, University of Wisconsin.(1994) Lean and Mean. The Changing Landscape of Corporate Power in the Age of Flexibility. New York: Basic Books.(1993) ‘Les grands curants d'opinion et de perceptions en France de la fin des années 70 au début des années 90’, in J.B.Dé Foucault (ed.), La France et l'Europe d'ici 2010. Paris: La Documentation française. pp. 127–35.(1984) Unquoted Companies. London: Macmillan.and (1986) ‘The economic borders of the state’, Oxford Review of Economic Policy, 2(2). http://dx.doi.org/10.1093/oxrep/2.2.1-a(1989) ‘Industrial order and the politics of industrial change’, in P.Katzenstein (ed.), Industry and Politics in West Germany. Ithaca: Cornell University Press. pp. 185–220.(1994) ‘Re-thinking democratic theory in advanced capitalist societies’. Annual Meeting of American Sociological Association, Los Angeles, 5–9 August.(1997) Comparing Capitalist Economies: The Embeddedness of Institutions. New York: Cambridge University Press. http://dx.doi.org/10.1017/CBO9781139174701and (Hollingsworth, J.R., Schmitter, Ph.C. and Streeck, W. (eds) (1994) Governing Capitalist Economies: Performance and Control of Economic Sectors. Oxford: Oxford University Press.1994) ‘Countries and sectors’, in J.R.Hollingsworth,P.Schmitter and W.Streeck (eds), Governing Capitalist Economics. New York: Oxford University Press.and (ISFOL, (1989) Rapporto ISFOL 1989. Oxford: F. Angeli.1989) Moderne Zeiten in der Automobilfabrik. Strategien der Produktionsmodernisierung und Arbeitsregulation im Länder- und Konzernvergleich. Berlin: Springerverlag., and (1994) Governing the Global Economy: International Finance and the State. Cambridge: Harvard University Press.(1993) ‘The trend in inequality among families, individuals and workers in the United States: a twenty-five year prospective’, in S.Danziger and P.Gottschalk (eds), Uneven Tides: Rising Inequality in America. New York: Russell Sage. pp. 19–97([Page 196]1993) ‘A comparison of changes in the structure of wages in four OECD countries’, Discussion Paper no. 144. Centre for Economic Performance, London School of Economics., and (1987) Policy and Politics in West Germany. Philadelphia: Temple University Press.(1993) Foundations of Corporate Success. Oxford: Oxford University Press.(1989) Mr Lawson's Gamble. London: Hodder & Stoughton.(1995) In Search of National Economic Success: Balancing Competition and Cooperation. Thousand Oaks: Sage.(1989) ‘New concepts of production in West German plants’, in P.Katzenstein (ed.), Industry and Politics in West Germany. Ithaca: Cornell University Press. pp. 87–113.and (1960) Industrialism and Industrial Man. Cambridge: Harvard University Press., , and (1936) The General Theory of Employment, Interest and Money. Vol. VII. London: Macmillan.(1993) ‘Institutional choices and labor market policy: a British-Swedish comparison’, Comparative Political Studies, 26(2): 147–77. http://dx.doi.org/10.1177/0010414093026002001and (Kogut, B. (ed.) (1993) Country Competitiveness: Technology and Organizing of Work. New York: Oxford University Press.1993) ‘Germany’, in M.Curtis (ed.), Introduction to Comparative Government. New York: Harper Collins.(1985) The Great Merger Movement in American Business 1885–1904. New York: Cambridge University Press. http://dx.doi.org/10.1017/CBO9780511665042(1991) ‘Industrial reorganization in Europe: patterns of convergence and divergence in Germany, France and Britain’, Work, Employment and Society, 5(4): 515–39. http://dx.doi.org/10.1177/0950017091005004004(Lange, P. and Regini, M. (eds) (1989) State, Market and Social Regulation, New Perspectives on Italy. Cambridge: Cambridge University Press.1992) ‘U.S. earnings levels and earnings inequality: a review of recent trends and proposed explanations’, Journal of Economic Literature, 30: 1333–81.and (1690) Two Treatises of Government. P.Laslett (ed.), Cambridge: Cambridge University Press.(1994) Remaking the Italian Economy: Local Politics and Industrial Change in Contemporary Italy. Ithaca: Cornell University Press.(1990) ‘Introduction: economic and social reorganization in the small and medium-sized enterprise sector’, in W.Sengen-berger,G.Loveman and M.Piore (eds), The Re-Emergence of Small Enterprises: Industrial Restructuring in Industrialized Countries. Geneva: International Institute for Labor Studies. pp. 1–61.and (1983) Phases of Capitalist Development. Oxford: Oxford University Press.(1987) Les phases du développement capitaliste. Paris: Economica.(1991) Dynamic Forces in Capitalist Development: A Long-Run Comparative View. Oxford: Oxford University Press.(1986) The Sources of Social Power, Vol. 1. Cambridge: Cambridge University Press. http://dx.doi.org/10.1017/CBO9780511570896(1994) ‘Performing for pay? The effects of “merit pay” on motivation in a public service’, British Journal of Industrial Relations, 32(2). http://dx.doi.org/10.1111/j.1467-8543.1994.tb01043.xand (1984) Empire colonial et capitalisme français. Paris: Albin Michel.([Page 197]1989) Dynamique industrielle et capacité d'innovation de l'industrie de la machine-outil en France et en RFA. Aix en Provence: Laboratoire d'économie et de sociologie du travail.and (1991) Français, si vous osiez…. Paris: Grasset.(1993) The State of Working America, 1992. Armonk: Sharpe.and (1993) Le Cœur financier européen. Paris: Economica.and (1994) ‘The stock market and problems of corporate control in the UK’, in T.Buxton,P.Chapman and P.Temple (eds), Britain's Economic Performance. London: Routledge.(New Earnings Survey (annual). London: HMSO.1995) ‘The collapse in demand for the unskilled and unemployment across the OECD’, Oxford Review of Economic Policy, 11(1). http://dx.doi.org/10.1093/oxrep/11.1.40and (OECD (1992) Economic Outlook: Historical Statistics. Paris: OECD.OECD (1993) Employment Outlook. Paris: OECD.OECD (1994) The OECD Jobs Study, Organization for Economic Co-operation and Development. Paris: OECD.1994) ‘The Japanese firm under the wartime planned economy’, in M.Aoki and R.Dore (eds), The Japanese Firm. Oxford: Oxford University Press. pp. 350–78. http://dx.doi.org/10.1093/acprof:oso/9780198288152.003.0014(1982) Theory and How American Business Can Meet the Japanese Challenge. New York: Avon Books.(1987) ‘Plant closures and the productivity “miracle” in manufacturing’, National Institute Economic Review, August.(1989) Pubblico e privato nei moderni sistemi di welfare. Naples: Liguori.(1992) Les Nouveaux piliers de la finance. Paris: La Découverte.(1993) La Société française et ses pauvres; l'expérience du revenu minimum d'insertion. Paris: PUF.(1984) ‘Sectoral patterns of technical change: towards a taxionomy and a theory’, Research Policy, 13: 343–73. http://dx.doi.org/10.1016/0048-7333%2884%2990018-0(1982) In Search of Excellence. New York: Harper and Row.and (1980) ‘Dualism as a response to flux and uncertainty. The technological foundations of dualism and discontinuity’, in SBerger and M.J.Piore (eds), Dualism and Discontinuity in Industrial Societies. Cambridge: Cambridge University Press. pp. 13–81.(1984) The Second Industrial Divide. New York: Basic Books.and (1978) ‘Political exchange and collective identity in industrial conflict’, in C.Crouch and A.Pizzorno (eds), The Resurgence of Class Conflict in Western Europe since 1968, vol. 2. London: Macmillan. pp. 277–98.(1944) The Great Transformation: The Political and Economic Origins of Our Time. New York: Rinehart & Co.(1983) La Grande transformation. Paris: Gallimard.(1992a) The Limits of Social Democracy. Ithaca: Cornell University Press.(1992b) ‘At the end of the third road’, Politics and Society, 20: 305–32. http://dx.doi.org/10.1177/003232929202000304(1995) ‘Explaining the decline of European social democracy’, World Politics, 47(4) 495–533. http://dx.doi.org/10.1017/S0043887100015197(1996) ‘Labor markets, production strategies, and wage-bargaining institutions’, Comparative Political Studies29(2): 223: 50. http://dx.doi.org/10.1177/0010414096029002004and (1990) ‘Neither market nor hierarchy: network forms of organization’, in L.L.Cummings and B.Staw (eds), Research in Organizational Behavior. Greenwich: JAI Press. pp. 295–336.(1992) ‘Competitive cooperation in biotechnology: learning through networks’, in N.Nohria and R.Eccles (eds), Networks and Organizations. Boston: Harvard Business School Press. pp. 366–94.and ([Page 198]1995) ‘Between voluntarism and institutionalism: industrial relations and human resources practices in Italy’, in R.Locke,T.Kochan and M.Piore (eds), Employment Relations in a Changing World Economy. Cambridge: MIT Press.and (1981) I dilemmi del sindacato. Bologna: Il Mulino.(1995) Uncertain Boundaries. The Social and Political Construction of European Economies. Cambridge: Cambridge University Press. http://dx.doi.org/10.1017/CBO9780511664212(Regini, M. and Sabel, C. (eds) (1989) Strategie di riaggiustamento industriale. Bologna: Il Mulino.1991) The Work of Nations: Preparing Ourselves for 21st-century Capitalism. New York: Alfred A. Knopf.(1989) ‘The Italian labor market: between state control and social regulation’, in P.Lange and M.Regini (eds), State, Market and Social Regulation. New Perspectives on Italy. Cambridge: Cambridge University Press. pp. 129–45.(1987) The Mitterrand Experiment Continuity and Change in Modern France. New York: Oxford University Press., and (1992) ‘Corporatism and market performance’, in J.Pekkarinen,M.Pohjola and B.Rowthorn (eds), Social Corporatism. Oxford: Clarendon Press. pp. 44–81.(1995) ‘Capital formation and unemployment’, Oxford Review of Economic Policy, 11(1). http://dx.doi.org/10.1093/oxrep/11.1.26(1931) ‘L'assurance chômage, cause du chômage permanent’, Revue d'économie politique:211–51.(1983) The Antimonies of Interdependence: National Welfare and the International Division of Labour. New York: Columbia University Press.(1992) ‘Symposium: multilateralism’, special issue, International Organization, 46(3): 561–708. http://dx.doi.org/10.1017/S0020818300027831et al. (1994) ‘Bootstrapping reform: rebuilding firms, the welfare state and unions?’ Paper delivered at the Confédération des syndicats nationaux, Montreal, 15–16 November.(1989) ‘Regional prosperities compared: Baden-Württemberg and Massachusetts in the 1980s’, Economy and Society, 18(4). http://dx.doi.org/10.1080/03085148900000019, , and (1992) Prices, Quality and Trust: Inter-Firm Relations in Britain and Japan. Cambridge: Cambridge University Press. http://dx.doi.org/10.1017/CBO9780511520723(1991) Crisis and Choice in European Social Democracy. Ithaca: Cornell University Press.(1955) Imperialism and Social Classes. New York: Meridian.(1964) Modern Capitalism. Oxford: Oxford University Press.(1967) Le Capitalisme d'aujourd'hui: l'État et l'entreprise. Paris: Gallimard.(1992) From Boom to Bust: Trial and Error in British Economic Policy. London: Penguin.(1990a) ‘Reinterpreting corporatism and explaining unemployment’, in R.Brunetta and C.Dell'aringa (eds), Labour Relations and Economic Performance. London: Macmillan. pp. 170–211.(1990b) ‘Wage determination: the changing role of institutions in advanced industrialized countries’, Oxford Review of Economic Policy, 6(4): 36–61. http://dx.doi.org/10.1093/oxrep/6.4.36(1992) Accountability to the Public. European Policy Forum.(1991) Rival States, Rival Firms, Competition for World Market Shares. Cambridge: Cambridge University Press. http://dx.doi.org/10.1017/CBO9780511549830and (1993) States and Markets: An Introduction to International Political Economy. Revised edn, London: Pinter.(1996) The Retreat of the State: The Diffusion of Power in the World Economy. Cambridge: Cambridge University Press. http://dx.doi.org/10.1017/CBO9780511559143(1993) The Growth of the Unelected State. London: Labour Party.(1994) The Unelected State Exposed. London: Labour Party.([Page 199]1989) ‘Skills and the limits of neo-liberalism: the enterprise of the future as a place of learning’, Work, Employment and Society, 3(1): 83–104. http://dx.doi.org/10.1177/0950017089003001006(1991) ‘On the institutional conditions of diversified quality production’, in E.Matzner and W.Streeck (eds), Beyond Keynesianism: The Socio-Economics of Production and Unemployment. Aldershot: Elgar. pp. 21–61.(1992) ‘Productive constraints: on the institutional conditions of diversified quality production, in W.Streeck,Social Institutions and Economic Performance: Studies of Industrial Relations in Advanced Capitalist Economies. London: Sage. pp. 1–40.(1993) ‘The social dimension of the European economy’, in D.Mayes,W.Hager,A.Knight and W.Streeck,Public Interests and Market Pressures. London: Macmillan.(1994a) ‘Modérations salariales sans politique des revenus: institutionalisation du monétarisme et du syndicalisme en Allemagne’, in R.Boyer and R.Dore (eds), Les Politiques des revenus en Europe. Paris: La Découverte. pp. 147–64.(1994b) ‘Pay restraint without incomes policy: constitutionalized monetarism and industrial unionism in Germany’, in R.Boyer,R.Dore and Z.Mars (eds), The Return to Incomes Policy. London: Pinter. pp. 118–40.(Sweden (1991) Statistical Abstract of Sweden. Stockholm: Government Publications Office.Swedish Metalworkers Union (1989) Solidarisk arbetspolitk. Stockholm: Swedish Metalworkers Union.Swedish Ministry of Industry (1990) Svensk industri i utveckling. Stockholm: Swedish Ministry of Industry.1989) Fair Shares. Ithaca: Cornell University Press.(1993) ‘The end of the Swedish model in the light of its beginings’. Discussion Paper. Berlin: Wissenschaftszentrum.(1986) Grandi partiti e piccole imprese. Bologna: Il Mulino.(1991) Union of Parts. Ithaca: Cornell University Press.(1993) ‘West European labor in transition’, World Politics, 46: 23–49. http://dx.doi.org/10.2307/2950665(UN (1993a) World Investment Directory 1992. New York: UN.UN (1993b) National Accounts Statistics. New York: UN.1991) ‘Trends in trade union membership’, OECD Employment Outlook, July: 97–134.(1994) German Banks and the Modernization of the Small Firm Sector. Berlin: Wissenschaftszentrum.(1993) ‘Internalization v. decentralization: an analysis of recent developments in pay bargaining’, British Journal of Industrial Relations, 31(3). http://dx.doi.org/10.1111/j.1467-8543.1993.tb00405.x(1995) ‘How tight is the labour market?’, The UK Economics Analyst, February.(1970) The Protestant Ethic and the Spirit of Capitalism. London: Allen and Unwin.(1988) Creating Capitalism. Oxford: Blackwell.(1981) English Culture and the Decline of the Industrial Spirit. Cambridge: Cambridge University Press.(1994) ‘Health, redistribution and growth’, in A.Glyn and D.Miliband (eds), Paying for Inequality: The Economic Cost of Social Injustice. London: IPPR/Rivers Oram Press.(1994) Civic Conservatism. London: Social Market Foundation.(1975) Markets and Hierarchies: Analysis and Anti-Trust Implications. New York: Free Press.(1985) The Economic Institutions of Capitalism. New York: Free Press.(Winock, M. (ed.) (1990) Les Années trente: de la crise à la guerre. Paris: Le Seuil.[Page 200]1990) The Machine that Changed the World. New York/Toronto: Rawson Associates, Collier Macmillan Canada and Maxwell Macmillan International., and (