Theoretical Contexts and Conceptual Frames for the Study of Twenty-First Century Capitalism

Peer Hull Kristensen, Glenn Morgan

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    This chapter argues that the comparative institutionalist approach requires rethinking in the light of developments in the twenty-first century. The chapter emphasizes the following features of the new environment: first, the rise of the BRIC and the emerging economies; secondly, the changed international regime in which the US is increasingly less hegemonic; thirdly, the financial crisis of 2008 and its impact on the US and other economies; fourthly, the continued decline of the Chandlerian, Fordist form of organization. The chapter argues that this requires a greater emphasis on first, the interaction between actors and institutions; secondly, the diversity of forms of economic coordination and governance; and thirdly, the variety of forms of state in the current period and in particular the variable ways in which they relate to firms and economic development.

    Original languageEnglish
    Title of host publicationCapitalisms and Capitalism in the Twenty-First Century
    EditorsGlenn Morgan, Richard Whitney
    Number of pages33
    Place of PublicationOxford
    PublisherOxford University Press
    Publication date2012
    ISBN (Print)9780199694761 , 0199694761
    Publication statusPublished - 2012

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