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Comparative Capitalism without Capitalism, and Production without Workers: The Limits and Possibilities of Contemporary Institutional Analysis
Author(s) -
Wood Geoffrey,
Dibben Pauline,
Ogden Stuart
Publication year - 2014
Publication title -
international journal of management reviews
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 4.475
H-Index - 107
eISSN - 1468-2370
pISSN - 1460-8545
DOI - 10.1111/ijmr.12025
Subject(s) - capitalism , production (economics) , neoclassical economics , economics , capitalist economy , economic system , sociology , positive economics , political science , microeconomics , law , politics
The aim of this paper is to consider the extent to which the comparative capitalism literature fully reflects the available empirical evidence in its attempts to model different versions of capitalism and, in particular, whether it adequately captures the roles of diverse stakeholders within the capitalist system. In doing so, particular attention is accorded to the varieties of capitalism literature, business systems theory and regulation theory. In addition, there is reflection in the paper on whether any strand of the literature is able to deal effectively with the recent economic crisis and systemic change. It is argued that more attention needs to be devoted to exploring the structural causes of change and the marginalization of the interests of key social groupings, most notably workers, from the process of institutional redesign.