Introduction: institutional change in advanced political economies

Abstract

"Empirically the chapters of this book deal with current changes in selected political-economic institutions of rich, mostly Western democracies. To us the most prominent theoretical frameworks employed in the analysis of the welfare state and of contemporary political economy generally seem singularly ill-equipped to capture significant developments underway in many if not all of them. While we join with a large literature that rejects the notion that previously diverse political economies are all covering on a single model of capitalism, we notice that many arguments in support of the idea of distinctive and stable national models lack the analytic tools necessary to capture the changes that are indisputably going on in these countries. One consequence is a tendency in the literature to understate the extent of change, or alternatively to code all observed changes as minor adaptive adjustments to altered circumstances in the service of continuous reproduction of existing systems." (excerpt)