Elites, Varieties of Capitalism and the Crisis of Neo-Liberalism

Glenn Morgan

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    The paper argues that the form, structure and ideologies of elites are embedded in particular forms of capitalism. Whilst elites in these different societies are engaged in a common task of ensuring that their position is sustained and protected in the light of economic and political uncertainties, the way in which they are able to do this is shaped by the particular forms of legitimation, coordination and cohesion that are embedded in particular institutional trajectories, path dependencies and complementarities. However, the paper emphasizes that these institutional structures are dependent on particular international economic orders and when these change either over the short or the long term, elites often find themselves struggling to maintain their position without significant changes. The paper examines firstly how the long-term change from Keynesianism to neo-liberalism in the international economic order led to changes in the terrain on which elites in different countries formed and exercised power and secondly how the immediate and drastic short-term changes in the global economy arising from the financial crisis has impacted on elites.
    Original languageEnglish
    Title of host publicationElites on Trial
    EditorsGlenn Morgan, Paul Hirsch, Sigrid Quack
    Number of pages26
    Place of PublicationBingley
    PublisherEmerald Group Publishing
    Publication date2015
    ISBN (Print)9781784416805
    ISBN (Electronic)9781784416799
    Publication statusPublished - 2015

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