A Comparative Political Economy of Industrial Capitalism by R. Mascarenhas

By R. Mascarenhas

This comparative learn of commercial capitalism is an exam of state-economy kin in combined economies starting from the interventionist German and jap to the fewer interventionist Anglo-American. Following the postwar consensus that led to the 'golden age' (1950-1973) and ended with the power situation, the Anglo-American economies followed neoliberalism whereas Germany and Japan remained interventionist. This ended in the emergence of nationwide sorts of capitalism. whereas reading the elevated festival among them, R.C.Mascarenhas additionally notes the impact of globalization in addition to 'alternative capitalism' with the survival and re-emergence of commercial districts.

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127). `Weber referred to the orientation of the economy toward growth as the ``spirit of capitalism'' and he called the economy oriented to and capable of growth ``capitalism'' ' (Greenfeld, 2001, p. 11). To understand the impact of religious values on economic conduct, he analysed differences in education and occupation between catholics and protestants and found pronounced economic rationalism among protestants. Studying the various 34 Foundations of Capitalism protestant groups, Weber observed commitment to industry, frugality, hard work and punctuality among Calvinists and concluded that the ethical elements that foster the capitalistic spirit are to be found in Calvinism (Zeitlin, 1981, p.

Government and the Economy in Australia and New Zealand: The Politics of Economic Policy Making (San Francisco: Austin & Winfield, 1996). , Comparative Political Economy of East and South Asia: A Critique of Development Policy and Management (Basingstoke: Palgrave Macmillan, 1999). , `Government, Big Business and the Wealth of Nations', in Alfred D. Chandler Jr et al. (eds), Big Business and the Wealth of Nations (Cambridge: Cambridge University Press, 1997). Moore Jr, Barrington, Social Origins of Dictatorship and Democracy: Lord and Peasant in the Making of the Modern World (London: Penguin, 1966).

The ascendance of neoliberalism with consequent deregulation and privatization challenged the underlying rationale of state intervention. Greater internationalization, it was expected, would lead to a shift of power towards capital and gradual loss of power to labour. While this trend did not actually eventuate in countries like Germany and Japan, the Anglo-American countries did move substantially in that direction placing greater importance on shareholder value (Fligstein, 2001). That move within the Anglo-American group towards a marketoriented model contrasted with the firm neocorporatist stance of Germany and Japan and resulted in a `second wave' of scholarship recognizing the importance of decentralized production and flexible specialization.

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