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This paper outlines an institutionalist political economy approach to capitalism as a specific type of social order … concepts of capitalism stood for. Proceeding from an institutionalist perspective, it elaborates a concept of capitalism not as …Das Papier entwickelt den Ansatz einer institutionalistischen politischen Ökonomie des Kapitalismus als einer …
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Flexible markets require flexible societies; humans, however, need a stable social order. According to received wisdom, when capitalist development razes traditional social structures, society fights back, and welfare state policies organize new stability to replace the old. More market produces...
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