Politics and markets - Varieties of capitalism

7 important questions on Politics and markets - Varieties of capitalism

What is the scope of coordinated market liberalism (Hall and Soskice 2001)?

Welfare states are extensive and help structure labour markets, there is state intervention in economy and more extensive tax on businesses

What is 'liberal market capitalism'?

Welfare provision does not affect industrial relations and the government plays less interventionist role in the affairs of firms

What is the Anglo-Saxon model of capitalism?

The state should allow the markets as much freedom as possible to allow firms to compete amongst each other with the goals of increasing profit margins and growth => UK, USA, Australia, based on liberal market capitalism
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How are contemporary Anglo-Saxon models characterized?

Focus on the service and knowledge economy, environment of competitiveness and flexible labour force

What characterizes the continental model?

The partnership between governments and business

What is the aim of the Nordic model?

Maintaining a high level of state spending on welfare and protection, but combining this with light regulation of private enterprises and investment

Why isn't there a model of Mediterranean capitalism but the difference with other European countries is too big?

Because their welfare state was developed later, they depended more on agriculture and they weren't that advanced when the welfare state was created. This had to do with military dictatorship in Spain and Portugal and prolonged conflict (Cyprus)

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