Varieties of Capitalism

Second-Generation Perspectives

Edited by Thomas Palley, Founding Editor of the Review of Keynesian Economics and Independent Economist, Esteban Pérez Caldentey, Editor of the Review of Keynesian Economics and Economic Commission for Latin America and the Caribbean (CEPAL), Chile and Matías Vernengo, Founding Editor of the Review of Keynesian Economics and Professor, Bucknell University, US

Over the past twenty years there has emerged a compelling new discourse on varieties of capitalism. That discourse has an appealing common sense which challenges the view there is no alternative to free market capitalism. The initial view had a microeconomic focus that made firms the fulcrum of analysis. It distinguished between liberal market and coordinated market economies. Subsequently, there has emerged a second-generation literature which adopts a macroeconomic perspective that emphasizes differences in drivers of growth. This book provides a collection of essays that engage those second-generation concerns and questions.