Tag Archives: varieties of capitalism

Why is Northern Europe so Indebted? The Impact of Welfare on Household Debt

Posted on May 29, 2021 by Oleg Komlik

by Martino Comelli* You might think the U.S. would be world champion of household debt, yet the highest private indebtment has always been in the Nordic countries. Debt, however, takes different forms. In Scandinavia, inclusive welfare systems make debt into … Continue reading →

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Finance under state capitalism: Re-conceptualising capital markets through China’s financial transformation

Posted on December 15, 2020 by Oleg Komlik

by Johannes Petry* When one thinks of China, burgeoning capital markets – the epitomisation of free market capitalism – are certainly not the first thing that spring to mind. By 1989, capital markets did not even exist in China. But … Continue reading →

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Political Economy After Neoliberalism: A Manifesto for New Thinking

Posted on October 8, 2020 by Oleg Komlik

by Neil Fligstein and Steven Vogel* If anything could have dislodged the neoliberal doctrine of freeing the market from the government, you might have expected the coronavirus pandemic to do the trick. Of course, the same was said about the global financial … Continue reading →

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Neoliberalism, Varieties of Capitalism, and Coronavirus

Posted on March 10, 2020 by Oleg Komlik

Since Neoliberalism shaped and fortified the notion that ‘the economy’ precedes ‘society’, now that Coronavirus crisis requires to put society first — this is perceived by many as simply illogical and capricious. The pandemic around the world is demonstrating a … Continue reading →

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The 2019 SASE’s Alice Amsden Book Award goes to ‘The Specter of Global China’ by Ching Kwan Lee

Posted on December 25, 2019 by Oleg Komlik

The winner of the inaugural Alice Amsden Book Award of the Society for the Advancement of Socio-Economics is The Specter of Global China: Politics, Labor, and Foreign Investment in Africa, by Ching Kwan Lee, Professor of Sociology at the University of California, Los … Continue reading →

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The Growth of Shadow Banking and State-Finance Relations

Posted on August 15, 2019 by Oleg Komlik

by Matthias Thiemann* How can we understand the growth of a system of credit provisioning outside of the realm of bank regulation since the 1970s which linked non-banks and banks in a convoluted system of market-based banking, securitization and wholesale … Continue reading →

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The 2019 Zelizer Award for Best Book in Economic Sociology goes to ‘Starving the Beast’ by Monica Prasad

Posted on July 23, 2019 by Oleg Komlik

Northwestern University scholar Monica Prasad is the winner of the 2019 Zelizer Book Award given by the American Sociological Association’s Economic Sociology section for an outstanding book in the field. Prasad will receive the Award for her superb book Starving … Continue reading →

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China is getting on wheels: varieties of development, car market reform and globalization

Posted on October 25, 2017 by Oleg Komlik

by Qiushi Feng* China is getting on wheels. Over the past three decades, with unparalleled speed, China has emerged as the world’s largest producer and consumer of passenger cars. Such a rapid growth is accompanied by profound changes of the … Continue reading →

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David Ricardo: What is the Key Problem in Political Economy?

Posted on April 21, 2017 by Oleg Komlik

David Ricardo (1772 – 1823) was a prominent classical economist who gave systematized form to the rising discipline of ‘economics’, rightly termed then as ‘political economy’. The opening paragraph of his book On The Principles of Political Economy and Taxation (1817) contributes to … Continue reading →

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What is Political Economy? It is Essentially a Historical Science

Posted on August 27, 2016 by Oleg Komlik

In December 1867 a German positivist philosopher and economist Eugen Dührings published a critical review of Karl Marx’s Capital. Dühring, inter alia, disapproved the Marxist labour theory of value and asserted, based on his own concept of “ethics of sympathy”, that a dichotomy between … Continue reading →

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Neoliberalism and the political economy of corporate governance

Posted on May 22, 2016 by Oleg Komlik

Major corporate frauds and scandals since the early 2000s (e.g. WorldcCom, Enron, Arthur Andersen, Bear Stearns, Lehman Brothers) and the 2008 financial crisis have not just exposed the inherent destructiveness of the neoliberal economy and economics, but also turned the crucially important spotlight towards … Continue reading →

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The Politics of Fiscal Policies: Lessons across Time and Space

Posted on July 23, 2015 by Oleg Komlik

Throughout the recent years of the crisis, the EU bodies and the German leaders have constantly oppressed Greece. They have pushed Greek people towards the abyss of austerity in the name of “fiscal responsibility” and “self-evident economic truths”. But essentially, it was … Continue reading →

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Democracy matters: the extension of the franchise and its impact on financial systems

Posted on May 22, 2015 by Oleg Komlik

For centuries, voting rights were limited to wealthy elites, aristocrats, and landlords. For instance,  the electorate in England and Wales in 1780 consisted of less than 3% of the total population. Suffrage reforms, enacted during the late 19th and the 20th … Continue reading →

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Community Capitalism in China: the State, the Market, and Collectivism

Posted on April 8, 2015 by Oleg Komlik

“Planning and market forces are not the essential difference between socialism and capitalism. A planned economy is not the definition of socialism, because there is planning under capitalism; the market economy happens under socialism, too. Planning and market forces are … Continue reading →

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From Socialism to Neoliberalism: the case of Central Eastern European countries

Posted on February 17, 2015 by Oleg Komlik

The transition from communism or socialism to capitalism has proved to be a rockier road than many in the West (think of Fukuyama as an example) anticipated. The degree and character of challenges that countries faced during the transition depended … Continue reading →

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