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Table of Contents

The Globalization of Markets and the Resilience of Capitalist Democracies: Observable Trends and Explanatory Theory: Globalization and Income Convergence.- The Political Economy of Capitalism.- Capitalism, Democracy and Inequality. Creating Capitalism, with or Without Democracy: Creating Capitalism in Europe.- Creating Capitalism and Democracy in the United States: The Symbiosis of Two Systems of Governance (1630-1830).- Creating Capitalism in Latin America. Barriers to Development in Capitalist Democracies: One Country-Two Systems: The Case of Italy- One Country - Two Systems: The United States (1878-1970).- Capitalism and Democracy in the US (1830-1930): Antagonistic Symbiosis. Catch-Up Strategies Post-World War II: Import Substitution.- Neo-Mercantilism.- The Washington Consensus. "Antagonistic Symbiosis" in a Contemporary Context: Latin American Reform and Instability.- Capitalism and Democracy in the US (1970-2006): Liberalization and Inequality.- Conclusions.- Implications.

About the Author

The author is the Paul Whiton Cherington Professor of Business Administration at Harvard Business School and has done extensive research and teaching in the field of economic strategies of nations


Professor Scott presents the development of capitalism as a political process, the result of conflicts among social actors, with capitalists and government officials as the main actors. While focused on the United States, this book has the great merit of showing that American capitalism was a contingent and not inevitable outcome, and that different balances of forces and different circumstances created distinct varieties of capitalism in other countries and historical moments. This book's insights deserve careful consideration from historians, social scientists, and all those who address economic issues in the political realm. Richard Lachmann,
Professor of Sociology
College of Arts and Sciences
University at Albany

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