Suchergebnisse

This book is the English language translation of the French publication Économie Politique des Capitalismes. Research in this book presents institutional and historical macroeconomics, through an analysis of wage-labour nexus, innovation systems, monetary and financial systems, integration into the world economy, formation of economic policy configurations, and the history of economic theories. In doing so, the book addresses how and why economic regularities change in long run, and why do macroeconomic adjustments differ across countries within the same historical period. It shows how institutional changes that have occurred since the 1970s and the research on the transformation of the American and French capitalism, have led to the emergence of a research agenda, known as Régulation Theory. Readers would understand the permanent transformations of capitalism and its crises, given the book's inclusion of long-term historical studies, systematic international comparisons for the contemporary period, and the exploration of the institutional and social foundations of microeconomics which has led to the evolution of various brands of capitalism. This translated work includes an introductory chapter by Prof. Elsa Lafaye de Micheaux and Thomas Lamarche.

Introduction -- Part One: The Basics -- Chapter 2: The institutional forms on which a capitalist economy is based -- Chapter 3: From the iron laws of capitalism to the successive regulation modes -- Chapter 4: Accumulation regimes and their historical evolution -- Chapter 5: A theory of the crisis -- Part Two: Developments -- Chapter 6: The logic of action, organizations and institutions -- Chapter 7: The new institutional arrangements of contemporary capitalism -- Chapter 8: Politics and economics: the political economy of the modern world -- Chapter 9: Diversity and renewal of the different forms of capitalism -- Chapter 10: The levels of regulation – national, regional, supranational and global -- Chapter 11: From one regulation mode to another -- Conclusion: Analyzing and understanding the new shift in the history of capitalism.

This book integrates three levels of political-economic analysis: first a comparative institutional analysis of the varieties of capitalism in both Europe and Asia, second a macroeconomic analysis of industrial structural change and economic dynamics of the national economies in Europe and Asia, and then an encompassing analysis of international production linkages and international financial instability which determine the long-term patterns of regional integration in Europe and Asia. The comparison of the European Union and ASEAN delivers some key conditions for a viable long-term regional economic integration to cope with contrasted capitalisms and growth regimes: either pragmatism in the choice of an exchange rate regime, or a form of fiscal federalism. The reader will also find a genuine analysis of the dynamism of the Chinese economy, a study on institutional changes and de-industrialization in Japan, and the increasing international production linkages among China, Japan, Korea, and ASEAN. It is shown how the enlargement of the European Union and the Euro triggered the diverging competitiveness and macroeconomic performances that led to the crisis of a six decades long economic and political process. This book is the result of long lasting Asian-European collaborative research. It is a milestone in the historical and comparative analysis along the régulation theory that aims at understanding the long-run transformations, renewed diversity and interdependence of capitalisms.--

Pourquoi le régime de croissance des trente glorieuses s'est-il enrayé ? Comment expliquer que les innovations financières aient d'abord accéléré la croissance avant de déboucher sur une crise majeure ? L'euro, supposé unifier le vieux continent, ne creuse-t-il pas une fracture Nord-Sud ? La théorie de la régulation répond à ces questions. Lors de sa création, dans les années 1970, elle a emprunté à Marx l'analyse de la dynamique du capitalisme, à l'école des Annales la nécessité d'une mise en perspective historique longue, aux post-keynésiens les outils de la macroéconomie. Depuis, elle n'a pas cessé de retravailler ses concepts, ses méthodes, et d'étendre son champ d'application. Aujourd'hui, sous l'hypothèse fondatrice du rôle déterminant des institutions et de leur architecture, elle est une économie politique qui explique les régimes de croissance stabilisée et leurs crises, avec une attention particulière à l'articulation de l'économique et du politique. Cet ouvrage expose les notions centrales de la théorie de la régulation en les situant par rapport aux théories orthodoxes, mais aussi aux différentes alternatives hétérodoxes. Ce manuel d'économie politique, sans équivalent, synthétise plusieurs décennies de travaux d'un réseau international de chercheurs

Both the varieties of capitalism school (VOC) and regulation theory (RT) address the issue of how and why capitalisms differ. If VOC challenges the primacy of liberal market economies (LME) and stresses the existence of an alternative form, i.e. coordinated market economies (CME), RT starts from a long-term analysis of the transformation of capitalism in order to search for alternatives to the Fordist regime that emerged after the post-WW II era. Both approaches frequently use in-depth international comparisons, challenge the role of the market as the exclusive coordinating mechanism, and raise doubts about the existence of 'one best way' for capitalism. Finally, they stress that globalization deepens the competitive advantage associated with each institutional architecture. Nevertheless, their methodology differs: VOC stresses private-firm governance, whereas RT considers the primacy of systemic and macroeconomic coherence. Whereas for VOC there exists only LME and CME, RT recurrently finds at least four brands of capitalism: market-led, meso-corporatist, social democratic and state-led. VOC seems to consider that the long-term stability of each form of capitalism can only be challenged by external shocks, but RT stresses the fact that the very success of a regulation mode ends up in a largely endogenous structural crisis. Whereas RT started from a rather economic point of view and now investigates the crucial role of politics, VOC originated largely in political science and political economy but now explores the economic theory of the firm.