This volume broadens the scope of 'comparative capitalism' within the Varieties of Capitalism (VoC) tradition. It endorses the employment of multiple perspectives, including critical political economy, institutionalist systems of capitalism, structuralist-dependency scholarship and world-systems theory. The contributors deal with the theory of economic patriotism in a conceptual framework, as well as case studies regarding rent-seeking behaviour, the patronage state in Hungary and Poland, the conflict between national regulation and the European legal framework and the perspective of wage relations in the European institutional framework. The book concludes with the legacy of developmentalism and dirigisme in a core-periphery relation, based on the French state and a range of non-European cases including Iran, Brazil and Egypt.

This volume is the continuation of our research on economic and developmental policy-making in the global semi-periphery in the post-crisis cycle (see our two recently published volumes titled ‘Market-Liberalism and Economic Patriotism in Capitalist Systems’ edited by Gerőcs and Szanyi, 2019, Palgrave Macmillan and ‘The Post-Crisis Developmental State – Perspectives from the Global Periphery’ edited by Gerőcs and Ricz, 2021). Our new volume aims to be a contribution to the analysis of emerging market economies’ alternative development trajectories, as we explore the new perspectives on semi-peripheral dependent development since the Global Financial Crisis and especially amidst the new global pandemic, the COVID-19. The scope of comparative capitalism research has also been altered accordingly to include the analysis of emerging economies outside the core of the world system, and to make intertemporal comparisons possible (such as to define and characterise historical waves of state capitalism). Still, we are convinced that to better understand the current wave of state capitalism and to explore its national varieties there is a need to critically reconsider existing theoretical approaches and methodologies, and to search for new ones, if necessary. This book aims to be a contribution to the analysis of emerging market economies' alternative development trajectories and explores new perspectives on semi-peripheral dependent development, especially amidst COVID-19.

The recent financial crisis has demonstrated that governments continuously seek to steer their economies rather than leaving them to free markets. Despite the ambitions of international economic cooperation, such interventionism is decidedly local. Some politicians even proudly evoke "economic patriotism" to justify their choices. This volume links such populism to a specific set of tensions – the paradox of neo-liberal democracy – and argues that the phenomenon is ubiquitous. The mandate of politicians is to defend the economic interests of their constituents under conditions where large parts of economic governance are no longer exclusively within their control. Economic patriotism is one possible reaction to this tension. As old-style industrial policy and interventionism gained a bad reputation, governments had to become creative to assure traditional economic policy objectives with new means. However, economic patriotism is more than just a fashionable word or a fig leaf for protectionism. This volume employs the term to signal two distinctions: the diversity of policy content and the multiplicity of territorial units it can refer to. Comparing economic interventionism across countries and sectors, it becomes clear that economic liberalism will always be accompanied by counter-movements that appeal to territorial images. This book was published as a special issue of the Journal of European Public Policy.

This is a book about how 21st-century capitalism really works. Modern economics strips away social, historical, and political context from analysis of 'the economic', but the economy is far too important to leave exclusively to the economists. Comparative Political Economy (CPE) is a much broader, richer intellectual undertaking which 're-embeds' the analysis of the economic within the social and political realm. This is at the heart of how to think like a political economist. This text maps the terrain and evolution of CPE, providing the analytical tools to explore the many variants of capitalism, unearthing their roots in competing visions of the desirable distribution of the fruits of growth. Connecting CPE systematically to the subfield of International Political Economy (IPE), the book explains how these visions generate ongoing political struggles over how to regulate and manage capitalism. This is the perfect introduction to the field for all students of CPE and IPE. New to this Edition: - Fully revised and updated throughout to take into account the latest empirical and theoretical developments in this fast-moving field - A brand New chapter on the political economy of inequality, populism, Trump & Brexit - New expanded 'how to use this book' aimed at student readers - More coverage of the types of economies covered, to move from an exclusively Western focus to cover developing and emerging global economies

In this new edition, the author discusses the latest developments both in the world of ideas and events, as well as the case for a genuine consumer market in broadcasting.

Political economy debates have focused on the internationalisation of private capital, but foreign states increasingly enter domestic markets as financial investors. How do policy makers in recipient countries react? Do they treat purchases as a threat and impose restrictions or see them as beneficial and welcome them? What are the wider implications for debates about state capacities to govern domestic economies in the face of internationalisation of financial markets? In response, Foreign States in Domestic Markets have developed the concept of 'internationalised statism', where governments welcome the use of foreign state investments to govern their domestic economies. These foreign state investments are applied to the most prominent overseas state investors, Sovereign Wealth Funds (SWFs). Many SWFs are from Asia and the Middle East and their number and size have greatly expanded, reaching $9 trillion by 2020. This book examines policies towards non-Western SWFs buying company shares in four countries: the US, UK, France, and Germany. Although the US has imposed significant legal restrictions, the others have pursued internationalised statism in ways that are surprising given both popular and political economy classifications. This book argues that the policy patterns found are related to domestic politics, notably the preferences and capacities of the political executive and legislature, rather than solely economic needs or national security risks. The phenomenon of internationalised statism underlines that overseas state investment provides policy makers in recipient states with new allies and resources. The study of SWFs shows that internationalisation and liberalisation of financial markets offer national policy makers opportunities to govern their domestic economies.