Table of Contents

Preface

Introduction: Capitalism: The Good, the Bad, and the Ugly, Dennis C. Mueller, University of Vienna

I. Origins
1. The Modern Capitalist World Economy: A Historical Overview, Jeffry A. Frieden (Harvard Law School)
2. Legal Institutions and Economic Development, Thorsten Beck (Tilburg University)
3. Capital Markets and Financial Politics: Preferences and Institutions, Mark Roe (Harvard University)

II. The Nature of Capitalism
4. The Four Types of Capitalism, Innovation, and Economic Growth, William J. Baumol (New York University and Princeton University), Robert E. Litan, Carl J. Schramm (Kauffman Foundation)
5. The Dynamics of Capitalism, F. M. Scherer (Harvard University)

III. The Institutions of Capitalism
6. Capital Markets, Thorsten Beck (Tilburg University)
7. Property Rights and Capitalism, Paul Rubin and Tilman Klumpp (Emory University)
8. Management and Governance of the Business Enterprise: Agency, Contracting, and Capabilities Perspectives, David J. Teece (University of California, Berkeley)
9. Contracts, Victor Goldberg (Columbia Law School)

IV. Problems with Capitalism
10. Capitalism as a Mixed Economic System, Richard Nelson (Columbia University)
11. Monopoly Capitalism, Keith Cowling (University of Warwick) and Philip R Tomlinson (University of Bath)
12. Agency Problems and the Fate of Capitalism, Randall Morck (University of Alberta) and Bernard Yeung (National University of Singapore)
13. The Governance of Executive Compensation, Martin J. Conyon (The Wharton School)
14. Bubbles in Asset Prices, Burton G. Malkiel (Princeton University)
15. Mergers and the Market for Corporate Control, Dennis C. Mueller (University of Vienna)

V. Capitalism and the State: Different Approaches
16. Dispersed Ownership:The Theories, The Evidence, and the Enduring Tension Between "Lumpers" and "Splitters", John C. Coffee (Columbia Law School)
17. The East Asian (mostly Japanese) Model of Capitalism, Hiroyuki Odagiri (Seijo University)

VI. Wither Capitalism?
18. Refounding Capitalism, Edmund Phelps (Columbia, University)

About the Author

Dennis C. Mueller is Professor of Economics, Emeritus at University of Vienna. Before coming to Vienna, he taught at the University of Maryland, College Park. His research interests include industrial economics, public choice, and constitutional political economy.

Reviews

It addresses what is right and wrong about modern capitalism from a variety of perspectives, which in the aggregate provide a balanced view of its strengths and weaknesses.
*E.L. Whalen, CHOICE*