TY  - JOUR
A1  - Hodgson, Geoffrey M.
T1  - Varieties of capitalism and varieties of economic theory
T2  - Review of international political economy
N2  - This article examines the type of economic analyses of capitalism presented by leading exponents of the neoclassical, marxian, Austrian and institutionalist schools of economic thought. Although each school has something to offer, it is argued that all except the institutionalist school are largely insensitive to different types of structure within capitalism and are blind to the cultures and institutions which characterize different kinds of capitalism. This conclusion is reached by addressing three issues: the problem of universal and specific assumptions in economic analysis; the question of "necessary impurities" in an economic system; and the relationship between actor and structure. It is concluded that institutional economics is most sensitive to the immense actual and potential variety within capitalism itself, and recognizes that the development of different capitalist systems can be divergent rather than convergent.
KW  - capitalism
KW  - institutional economics
KW  - institutions
KW  - culture
KW  - variety
KW  - cumulative causation
Y1  - 2010
UR  - http://publikationen.ub.uni-frankfurt.de/frontdoor/index/index/docId/13921
UR  - https://nbn-resolving.org/urn:nbn:de:hebis:30-1145740
SN  - 0969-2290
N1  - Signatur: Zs 21908
VL  - 3
IS  - 3
SP  - 380
EP  - 433
ER  -