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.

Between Neo-Liberalism and the German Model: Swedish Capitalism in Transition

Between Neo-Liberalism and the German Model: Swedish Capitalism in Transition

Between neo-liberalism and the German model: Swedish capitalism in transition

In the course of 44 years of uninterrupted social-democratic government, from 1932 to 1976, Sweden came to be viewed by Swedes and foreigners alike as a model of ‘welfare capitalism’. Enabling the country to achieve the highest level of employment and the lowest level of income inequality in the OECD, the Swedish model combined an export-oriented private sector with extensive public provision of social services, wage compression through economy-wide collective bargaining, selective state intervention in the labour market, and a system of taxation that encouraged productive domestic reinvestment of corporate profits.

Most observers agree that the Swedish model died in the 1980s, or at the latest in ...

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