Industrial organisation & varieties of capitalism
Capitalism is no longer — assuming it ever was — a singular system. As we are reminded daily, there are many different shapes that capitalism (still) takes, even after decades of globalisation, self-conscious policy borrowing and attempts at sustained political-economic convergence.
The Nordics tick to a different clock than the Anglo-Saxon economies; the state (still) plays a larger role in the economy in France and Italy; and Germany and its economic satellites of small countries have proven themselves to be resilient high-skill, high-wage, high-value added exporting nations. And despite recurrent announcements to the contrary, these different patterns of economic organisation remain relevant and appear sustainable; they also inform much of what governments do in the EU.
Recognising the variation in domestic arrangements, institutions and policies is therefore important to understand individual countries and the possible trajectories of the EU. Experts at PEACS have been among the leading scholars and analysts of capitalist diversity and its implications for several decades.