Rhenish Capitalism

Rhenish capitalism is an ideal-typical model of capitalism which is characterised by a bank-centered financing system, close economic ties between banks and companies, a balance of power between shareholders and management, and a social partnership between unions and employers. The West German economy of the 1950s to the 1980s is the prime example of that model of capitalism which contrasts with the liberal Anglo-Saxon forms of capitalism. In accordance with recent debates about Varieties of Capitalism, the authors argue that research on capitalism should pay more attention to change over time. The book also claims to put the firm into the centre of analysis. The empirical contributions uncover the differences between French and German corporate governance practices comparing two European automobile producers (VW and Renault), analyse legal debates and practices of corporate control in post-war Germany, show the tension between national corporate governance and increasing internationalisation by reference to four major West German producers of chemicals, pharmaceuticals and fibres; and explore the opportunities encountered by German big banks vis-à-vis their customers from big industry. Furthermore, they show that coordinating culture in the supply relationship of the German automobile industry came under pressure at the end of the boom and stress the importance of communication processes as a basis for interest coordination in Rhenish capitalism. The chapters in this book were originally published as a special issue of the journal Business History.

Communism has collapsed. Capitalism has rid itself of the competition on which it thrives. But though now victorious, capitalism has become a threat. The future of us all may be shaped by the outcome of the conflict between capitalism as victor and capitalism as threat. Not only in Europe, but also in the US and Japan - and no doubt shortly in the Eastern countries too - the great debate is capitalism versus capitalism. On the one hand is the "neo-American" model based on individual achievement and short-term profits. On the other is the Rhine model practices in Switzerland, Germany, Benelux, Northern Europe and, partly, in Japan. In the Rhine model collective achievement and public concensus are seen as the keys to long-term success. The first is more seductive, the second more effective. These two opposing forms of capitalism are engaged in a war which, like all internal conflicts, involves both secrecy and even hypocrisy. The outcome of this struggle could affect the quality of life on all levels of society. The author of this book aims to provide a synthesis which will force the reader to consider the political and economic issues at stake towards the end of the century.

The theory of capitalism and of the economic order is the central topic of the German economic tradition in the 20th century. Capitalism has not only been the topic for Marxist economics and for the Frankfurt School but also for the Historical School and for the postmarxist theory of capitalism in Ordo- and Neo-Liberalism as well as in Solidarism. The question of the foundations of the economic order of the market economy and of capitalism as well as the problem whether a third path between capitalism and social ism is possible occupied this tradition from the Historical School to Ordo Liberalism and the theory of the social market economy. The theory of capitalism and of the social market economy as well as the critique and reform developed in this theoretical tradition is important for the theory of economic systems as well as for today's problems of the eco nomic order. Its relevance for the present world economy is visible in the discussions whether there exist different models of capitalism and whether they can be described as the Anglo-American and as the Rhenish model of capitalism influenced by the thought of the German economic tradition. Michel Albert, the author of this classification, gave the key-word in his book Capitalism against Capitalism. The papers of this book can help to clarify this debate by giving a first hand introduction to some of the main economic thinkers of capitalism.

This best-selling dictionary contains over 1,700 entries on all aspects of politics. Written by a leading team of political scientists, it embraces the whole multi-disciplinary specturm of political theory including political thinkers, history, institutions, and concepts, as well as notable current affairs that have shaped attitudes to politics. An appendix contains timelines listing the principal office-holders of a range of countries including the UK, Canada, the USA, Australia, New Zealand, Russia, and China. Fully revised and updated for the 3rd edition, the dictionary includes a wealth of new material in areas such as international relations, political science, political economy, and methodologies, as well as a chronology of key political theorists. It also boasts entry-level web links that don't go out of date. These can be accessed via a regularly checked and updated companion website, ensuring that the links remain relevent, and any dead links are replaced or removed. The dictionary has international coverage and will prove invaluable to students and academics studying politics and related disciplines, as well as politicians, journalists, and the general reader seeking clarification of political terms.

In this forward-thinking book, Rafał Riedel and Jakub Anusik explore the dynamics and determinants of one of the most salient issues facing contemporary Europe: differentiated integration. Going beyond static models of differentiated integration in Europe built on legal-institutional criteria, Riedel and Anusik capture the dynamism of the system by employing both a political economy perspective and the varieties of capitalism framework. This title contains one or more Open Access chapters.

The social market economy forms a fundamental theory of the market economy and an integrated economic and ethical theory of the economic order in which the political and societal conditions for the working of the market are included in the theory of the market economy. The social market economy is presented as a universal theory of the decisions to be made about the economic order in all cultures and is analysed in its basic theoretical foundations and in its application to the transition process from the planned to the market economy, particulary in the privatisation of socialised property in Russia and former East Germany. Leading German and Russian experts in the field as well as four classical texts present a systematic analysis of the social market economy from the point of view of economics, law, and ethics.

'...there is... no lack of ambition in this book. And yet, unlike much of what today comes as sociology, it is fun to read, written in a way that combines the very abstract and the very concrete, the principles of general theories and the anecdotes of specific histories, in ways that are enlightening and entertaining at the same time. Those who take the book to heart will find themselves in possession of a language that can speak about 'globalization' in a non-sensationalist manner without, however, in any way detracting from its significance - in fact, quite to the contrary. They will much better and more systematically understand the lasting significance of the local in a world whose horizons of action are expanding.' From the Foreword by Wolfgang Streeck, Max Planck Institute for the Study of Societies, Cologne The rhetoric of internationalization and globalization often suggests an inexorable move away from domestic cultural and institutional differences. Yet the development of internationalization within individual nations has been shaped by those very domestic institutions and cultures, as 'best practice' or other kinds of international learning have been translated into established practice and knowledge. In this important study, Arndt Sorge presents a sociological theory of the development of human societies to explain how business systems evolve and change, and how internationalization works to specify and change societal identities within nations. Examining changes in work, organization, corporate governance, and human resources, Sorge shows how this interaction is a pattern that has been followed over centuries. Indeed, amongst the cases Sorge presents, he concentrates on the example of Germany, a supposedly highly homogeneous and closed society, as evidence for the universality of shifting borders, expanding horizons, local adoption and adaptation of global practices, and the hybridization of systems and standards, as the normal course of social evolution. Arndt Sorge's analysis of globalization combines rigorous theoretical reasoning with empirically-grounded analysis, and deliberately adopts a general social science approach, drawing on research from Business and Management Studies, Sociology, Political Science, and History.