Contemporary Capitalism -- The Transplantation of Institutions

Author: Hollinsworth
Publisher:
Publish Date: 2001-09-01
Features: This series primarily translates works by foreign scholars on various aspects of contemporary capitalism, and will also introduce works by Chinese scholars on contemporary capitalism when appropriate. This book elaborates on the view that in the modern society that is still organizing and growing, there is no single, best institutional setup. Therefore, the market should not be seen as an ideal and universally applicable arrangement for assisting in the coordination of economic activities. The author argues that, on the contrary, the capitalist economic system exhibits great diversity and complementarity in its goals and means, rather than being monotonous and isolated. Each chapter of the book explores challenging topics, analyzes different institutional arrangements for coordinating economic actions, explains the logic and functions they follow, and why they can form, mature, and persist. The author concludes that any institutional arrangement has its strengths and weaknesses, and the implementation of these institutions should be based on the specific development patterns of a society. The author also points out that these institutions must continuously adapt to changing environmental conditions and cannot remain rigid.