Capitalisms Compared: Welfare, Work, and Business

Synopsis

How different would Americans’ lives be if they had guaranteed access to health care, generous public pensions, paid family leave, high-quality public pre-school care, increased rights at work, and a greater say in how corporations are run?This one-of-a-kind book emphasizes that differences in policies and institutions affect the lives of citizens by comparing health, pension, and family policies, as well as labor markets and corporate governance in the United States, Sweden, and Germany. Demonstrating that the US model of capitalism is not the only one that is viable, Bowman encourages students not only to rethink their assumptions about what policy alternatives are feasible, but also to learn more about American capitalism through insightful contrast. Covering a wide range of policy areas and written in a crisp, engaging style, Capitalisms Compared is a perfect companion for courses in political economy and public policy. Key features: Clear and concrete descriptions of complex policy areas enable students to gain a full understanding of how policies and institutions actually work; Policy comparisons are presented in a way that emphasizes the relevance of policies to students' lives and well-being; Key Concepts and Questions for Review and Reflection enable students to check their understanding and push them to reexamine their assumptions about the appropriate role of government.--Publisher's website. Introduction. Comparing political economies : markets, politics, and institutions ; Welfare states : welfare state or social security state? ; Varieties of capitalism : business institutions and strategies ; The plan of this book -- Health Policy. Is health care a commodity? ; Germany : Private practice and universal coverage ; Sweden : a right to high quality health care ; United States : incomplete coverage through private and public insurance ; Comparing systems and outcomes -- Pension policy. Paying as you go : where do pensions come from? ; Germany : earnings-related public pensions ; Sweden : public pensions with notional accounting ; United States : a public-private pension mix with precarious retirement ; Comparing systems and outcomes -- Family policy. Bringing families back in ; Sweden : paid parental leaves and universal public child care ; Germany : moving beyond the male breadwinner model ; United States : juggling work and family through the market ; Comparing policies and outcomes -- The labor market. Human effort as a commodity : the distinctive features of labor markets ; Sweden : flexible centralization? Germany : codetermination and coordinated bargaining ; United States : bargaining among unequals ; Comparing systems and outcomes -- Corporate governance and finance. In whose interests? Shareholders versus stakeholders ; United States : stock market capitalism run amok? ; Germany : patient capital and bank control ; Sweden : capitalist enterprise without capitalists? ; The financial crisis of 2008-2009 and its aftermath ; Conclusion -- The viability of alternative forms of capitalism. Globalization and the economic feasibility of alternative capitalisms ; Neoliberalism and the political feasibility of alternative capitalisms ; Conclusion : but not in the United States? John R. Bowman, Queens College and the Graduate Center, City University of New York. Includes bibliographical references and index.