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Around the world, 250 million children cannot read, write, or perform basic mathematics. They represent almost 40 percent of all primary school-aged children. This situation has come to be called the “Global Learning Crisis,” and it is one of the most critical challenges facing the world today. Work to address this situation depends on how it is understood. Typically, the Global Learning Crisis and efforts to improve primary education are defined in relation to two terms: access and quality. This book is focused on the connection between them. In a mixed-methods case study, this book provides detailed, contextualized analysis of Ugandan primary education. As one of the first countries in sub-Saharan Africa to enact dramatic and far-reaching primary education policy, Uganda serves as a compelling case study. With both quantitative and qualitative data from over 400 Ugandan schools and communities, the book analyzes grade repetition, private primary schools, and school fees, viewing each issue as an illustration of the connection between access to education and education quality. This analysis finds evidence of a positive association, challenging a key assumption that there is a trade-off or disconnect between efforts to improve access to education and efforts to improve education quality. The book concludes that embracing the complexity of education systems and focusing on dynamics where improvements in access and quality can be mutually reinforcing can be a new approach for improving basic education in contexts around the world.

This book addresses two important questions: first, why did financial innovation lead to the crisis in the banking sector that developed in 2007–8; and, second, why the political reform of finance has apparently proved so difficult across a variety of political jurisdictions? This ambitious book draws on a team of researchers from different disciplines to develop an innovation and distinctive argument in response to these two critical issues. In the first half of this book our question is about how crisis was generated. Chapters 2, 3, and 4 develop our answer, which is that innovation in and around the financial markets took the form of bricolage which did not consider the risks, uncertainty, and unintended consequences of volume-based business models and complex circuits. The direct implication is that finance needs to be simplified, rather than regulation made more sophisticated. In the second half of the book, our question is about why democratic political control both before and after the crisis has proved so difficult? Chapters 5, 6, and 7 develop our answer, which is that self-serving financial elites are not easily controlled by technocratic elites who are themselves recovering from knowledge failure, or by the rest of the governing classes concerned with political positioning for electoral advantage on issues which are technical, opaque, and illegible to the electorate at large. In Chapter 8, we discuss some of the implications of this analysis for how reform of both banking regulation and democracy is required.

Since the early 1990s, Europe's economies have been facing several new challenges: the 1992 single market programme, the collapse of the Berlin wall and eastward enlargement, and monetary unification. Building on the influential Varieties of Capitalism (VoC) perspective, this book critically analyses these developments in the European political economy and their effects on the continental European economies. The chapters include debate about how VoC can help understand the political-economic challenges that Europe is facing today, and how understanding these new challenges can in turn enrich and enhance the VoC perspective. Thematically, the contributions to this volume are organised in four sections: how the macro-economics of EMU influenced different European models of capitalism; how the Single Market programme was received in the different institutional regimes in European capitalism; how welfare and labour market reforms are debated and implemented; and how European capitalism travelled east after 1989. The book aims to demonstrate that the VoC approach remains — as the editors put it in their introduction — a rich seam to mine, capable of accommodating new developments, and theoretically flexible enough to branch out into new arguments.

Twenty-first century capitalism has been marked by an increasing international economic independence, and considerable differences between dominant economic systems of coordination and control. In this context, national competition and coordination within industries has increased, but the governance of leading firms and the kinds of competences they develop remains quite diverse. This book suggests how we can understand this combination of diversity and integration by developing the comparative business systems framework in three major ways. First, by identifying the particular circumstances in which distinctive business systems and innovation systems become nationally established and reproduced, as well as how changing endogenous and exogenous pressures have affected the major kinds of business systems that developed in many OECD states during the post-war period. Second, by showing how variations in authority sharing with employees and business partners and in the provision of organizational careers lead institutional regimes to affect the nature of organizational capabilities that dominant firms develop and enable them to deal with different kinds of risks and opportunities in particular technologies and markets. Third, by identifying the circumstances in which multinational firms are likely to develop distinctive transnational organizational capabilities through such authority sharing and careers, and so become different kinds of companies from their more domestically focused competitors. In many if not most cases of cross-national managerial coordination, these conditions rarely exist, and so the extent to which multinational firms do indeed constitute distinct organizational forms and strategic actors is much less than is sometimes claimed.

Our quest for prosperity has produced great output but not always great outcomes. The list of concerns is growing and familiar. Fundamentally, when it comes to well-being, fairness, and the scope of our humanity, the modern economic system still leaves much to be desired. In turn, trust in business and the liberal market system (aka “capitalism”) has been declining and regulation has been rising. A variety of forces—civic, economic, and intellectual—have been probing for better alternatives. The contributions in this volume, coauthored by eminent philosophers, social scientists, and a handful of thoughtful business leaders, are submitted in this spirit. The thrust of the work is conveyed in the volume’s titular question: Capitalism Beyond Mutuality? Mutuality, or the exchange of benefits, has been established as the prime principle of interaction in addressing the chronic dilemma of human interdependence. Mutuality is a fundament in the social contract approach and it serves us well. Yet, to address the concerns outlined here, we must help evolve an economic paradigm where mutuality is more systematically complemented by reasoned and elective morality. Otherwise the state will remain the sole (if inadequate) protector and buffer between market and society. Hence, rather than just regulate power we must also educate power. Philosophy has a natural role, especially when education is the preferred vehicle of transformation. Accordingly, the essays in this volume integrate philosophy and social science to outline and explore concrete approaches to these important concerns emanating from business practice and theory.

Over the last decade, the neo-institutionalist literature on comparative capitalism has developed into an influential body of work. This book assesses this literature and proposes a major re-orientation of the field. It critiques many aspects of this work and finds a way of modelling how creative actors trying to achieve change — institutional entrepreneurs — tackle these constraints. Central to the account is the concept of governance, as it is by recombining governance mechanisms that these entrepreneurs must achieve their goals. In seeking how to analyse the spaces in which they operate, the book criticises and deconstructs some dominant approaches in socio-political analysis: to typologies, to elective affinity and complementarity, to path dependence. It develops a theory of governance modes, which includes potentially decomposing them into their core components. Finally, it proposes a reorientation of the neo-institutionalist research programme to take more account of detailed diversity and potentiality for change. The book is primarily theoretical, but it makes liberal use of examples, particularly from studies of local economic development and politics.

By tracing historically the evolution of Korean state-led capitalism and comparing it with other economies, this book criticizes prevalent theories including neoliberalism, the developmental state, and institutionalism, while proposing a theoretical alternative focusing on endogenous changes and institutional adaptability through elite competition within the state. Unlike the arguments of the neoliberals, the state can still play an active role in reconstituting the national economy in globalization. The Korean state successfully fosters economic growth by nurturing industrial commons even in globalization, rather than change toward a neoliberal free market system. In order to better account for sustainable economic growth over a long time, this book emphasizes institutional adaptability through elite competition, rather than offering neoliberal celebrations of the free market and the statist emphasis on the stringent Weberian state. The Korean economy, as well as the East Asian developmental state (DS) economies, could have sustainable development over a long period, not because of an apparent and standardized growth formula, or because of some institutional elements of a stringent Weberian state, but because they have adjusted their methods and strategies of development through competition among elites inside and outside the state, as new challenges, never met with an apparent solution, have continuously emerged. In order to better account for the evolution of state-led developmentalism in Korea, as well as in other countries, this book proposes changes by competition among elites within as well as outside the state, which causes changes in developmentalism and more flexible adjustments in new contexts.

This book examines the changing patterns of economic organization across Northeast and Southeast Asia against the backdrop of market liberalization, political changes and periodic economic crises since the 1990s. It provides an interdisciplinary account of variations, continuities and changes in the institutional structures that shape business systems and practices and govern innovation patterns, together with analyses of their impact on established systems of economic coordination and control. It makes important contributions to current theoretical and policy debates on the comparative analysis of socio-economic institutions and dominant forms of economic organization by: (1) mapping recent changes in the major business systems of Northeast and Southeast Asian economies; (2) developing a range of causal propositions about how changing institutions and socio-political coalitions are affecting the nature of Asian business organizations; and (3) illustrating the causal pathways through which changing business systems have shaped the development of innovation patterns and strategies in the region.

This book presents the outcomes of the research project on “The New Silk Road: Implications for higher education and research cooperation between China and Europe.” It addresses questions regarding how academic mobility and cooperation is taking shape along the New Silk Road and what difference it will make in the global higher education landscape. It presents a rich collection of contributions by scholars from Europe, China, the USA, Russia, and Australia, combining perspectives from anthropology, computer sciences, economics, education, history, law, political science, philosophy, science and technology studies, sinology, and sociology. Introductory chapters present the global context for the NSR, the development of Chinese universities along international models, and the history and outcomes of EU–China cooperation. The flows and patterns in academic cooperation along the New Silk Road as they shape and have been shaped by China’s universities are explored in more detail in the following chapters. The conditions for Sino-foreign cooperation are discussed next, with an analysis of regulatory frameworks for cooperation, recognition, data, and privacy. Comparative work follows on the cultural traditions and academic values, similarities and differences between Sinic and Anglo-American political and educational cultures, and their implications for the governance and mission of higher education, the role of critical scholarship, and the state and standing of the humanities in China. The book concludes with contributions focusing on the “Idea of a University”; the values underpinning its mission, shape, and purpose, reflecting on the implications of China’s rapid higher education development for the geo-politics of higher education itself.

Modern constitutions are relatively recent instruments of rule and are closely associated with the formation of national states from the eighteenth century onwards. So what is this term doing in respect to global business practices and corporate affairs? This question is the one the book sets out to explore. The argument is that with the advent of globalization — where corporate organizations and the commercial relations that accompany them are argued to have become increasingly transnational — the locus of powers, authorities, and responsibilities has shifted to the global level. The nation-state arena is losing its capacity to regulate and control commercial processes and practices as a transformational logic kicks-in, associated with new forms of global rule making and governance. And it is this new arena of global rule making can be considered as a surrogate form of global constitutionalization, or ‘quasi-constitutionalization’. But as might be expected, this surrogate process of constitutionalization is not a coherent program or a set of rounded outcomes but is full of contradictory half-finished currents and projects: an ‘assemblage’ of many disparate advances and often directionless moves — almost an accidental coming together of elements. Thus, the book is about governance, law, and constitutional matters. these are discussed in the context of international corporate constitutional governance. So, the emphasis is upon how and why the business world, commercial relations, and particularly company activities have increasingly become subject to legal and constitutional forms of regulation and governance at the international level. The questions asked is how to characterize the process that has seen the international corporate sphere increasingly subject to juridical and constitutional-like regulatory initiatives and interventions. Does this amount to a new attempt to subject international commercial relations to the ‘rule by law’ and, indeed, to rule the world through these very means?

This book examines the construction of capitalisms in Poland, the Czech Republic, Hungary, and Romania after 1989, within a national business systems framework. Four elements of capitalism are analysed—property ownership, capital accumulation, production relations (specifically, international), and relations between the state and the economy. This book shows how the capitalisms constructed did not match the expectations of the early 1990s. Economic assets were privatized, but the exercise of shareholders’ rights was more limited in practice than in shareholder value theory. Blockholders dominated boards of directors in all four countries, often aligned with corporate management. Capital markets were developed, but played a greater role symbolically than as sources of finance. Enterprises in all four countries were incorporated into international production chains, with expansion in export and import of intermediate products, especially in motor vehicles. Despite the transition’s aim to reduce the role of politics in the economy, constructing capitalisms was heavily dependent upon political initiatives, nationally and internationally. Labour played only a supporting role in constructing capitalisms, through participation in tripartite forums; union membership declined, and industrial conflict primarily involved state sector workers. The capitalisms that developed were segmented, analysis of Hungary indicating four segments—state, privatized, de novo, and international—with different patterns of ownership, finance, product market relations, and links with the state. Capitalisms in the four countries thus never corresponded to liberal market models. The incentive to follow liberal market models declined further with the financial crisis of Western capitalisms in 2008, and growing investment in the region by sovereign wealth funds, Russian and Chinese.

Amongst intellectuals and activists, neoliberalism has become a potent signifier for the kind of free-market thinking that has dominated politics for the past three decades. Forever associated with the conviction politics of Ronald Reagan and Margaret Thatcher, the free-market project has since become synonymous with the ‘Washington Consensus’ on international development policy and the phenomenon of corporate globalization, where it has come to mean privatization, deregulation, and the opening up of new markets. But beyond its utility as a protest slogan as a shorthand signifier for the political-economic Zeitgeist, what do we know about where neoliberalism came from and how it spread? Who are the neoliberals, and why do they studiously avoid the label? This book presents a radical critique of the free-market project, from its origins in the first half of the 20th century through to its near-death experience in the recent global economic crisis, from the utopian dreams of Friedrich von Hayek, through the dogmatic theories of Milton Friedman and the Chicago School, to the hope and hubris of Obamanomics. The book traces how neoliberalism went from crank science to common sense in the period between the Great Depression and the age of Obama. It is an exploration of the antisocial life of the free-market project, examined in its cradles of invention and in its zones of extension and contestation. In the process, the book elaborates (and puts to work) an understanding of neoliberalism as an adaptive, unevenly developed regulatory project.

When two parties quarrel, the third rejoices, according to a well-known proverb. This book highlights the role of rejoicing “profiteers” in political efforts to expand market-based competition. Marketization appears puzzling if it is conceptualized as a political struggle between the established incumbents and their challengers, or between producers and consumers. Challengers and consumers often lack the resources to overcome barriers to market entry, and collective action problems afflict both groups. Why, then, do incumbents fail to protect their turf? The present book resolves this puzzle by casting light in a new direction, toward those who profit from a contest while remaining above the fray. The rejoicing band of profiteers grows alongside the arena of competition. Once the suppliers of market support services have established themselves on the sidelines of a contest, they accumulate resources that help them expand that arena further. Political struggles surrounding the gradual marketization of corporate control in Britain, Germany, and France from the 1860s onward provide empirical illustration. The book maps and analyzes the path-dependent evolution of support for shareholder rights relating to takeover bids among key interest groups, including managers, creditors, shareholders, and takeover service providers, as well as among political parties. By comparing the self-reinforcing and self-undermining policy feedback of market-enabling and market-restraining rules, it helps explain why market containment is an uphill struggle, while market expansion becomes easier with time.

Through the 1990s and early 2000s, a strength of the United States economy has been its ability to foster large numbers of small innovative technology companies, a few of which have grown to dominate new industries, such as Microsoft, Genentech, or Google. US technology clusters such as Silicon Valley have become engines of innovation and wealth creation, and the envy of governments around the world. This book examines trajectories by which new technology industries emerge and become sustainable across different types of economies. Governments around the world have poured vast sums of money into policies designed to foster clusters of similar start-up firms in their economies. The book employs empirical studies of the biotechnology and software industries in the US and several European economies to examine the relative success of policies aimed at cultivating the “Silicon Valley Model” of organizing and financing companies in Europe. Research associated with the “varieties of capitalism” literature has argued that countries with liberal market orientations, such as the US and the UK, can more easily design policies to cultivate success in new technology industries compared to countries associated with organized economies, such as Germany and Sweden. The book's empirical findings support the view that national institutional factors strongly condition the success of new technology policies. However, the study also identifies important cases in which radically innovative new technology firms have thrived within organized economy. Through examining cases of both success and failure, this book helps identify constellations of market and governmental activities that can lead to the emergence of sustainable clusters of new technology firms across both organized and liberal market economies.

This book explores the establishment of emissions trading as a form of environmental market-based governance in Australia, China, Europe, Japan, South Korea, and the United States. It argues that international efforts to promulgate markets run up against local cultures of markets that shape economic practices and knowledge to different degrees. While the global agenda under the United Nations Framework Convention on Climate Change has sought to develop similar systems to enable interconnected and synchronized emissions reductions, each of the cases analyzed here has produced different results. The markets and climate policies established reflect the syncretic impact of sociopolitical and cultural context on the institutional transfer of markets. Each country expresses a varying degree of ease or unease with the establishment of markets as systems of climate governance. The book also examines the material implications of emissions markets on the environment and climatic systems. It finds that cultures of markets present a substantial challenge to a universalist prescription for resolving climate change and highlights issues of citizen, state, and industry participation, and the materiality of economic and financial productivity.

Government information systems are big business (costing over 1% of GDP a year). They are critical to all aspects of public policy and governmental operations. Governments spend billions on them — for instance, the United Kingdom alone commits £14 billion a year to public sector information technology (IT) operations. Yet governments do not generally develop or run their own systems, instead relying on private sector computer services providers to run large, long-run contracts to provide IT. Some of the biggest companies in the world (IBM, EDS, Lockheed Martin, etc.) have made this a core market. This book shows how governments in some countries (the United States, Canada, and the Netherlands) have maintained much more effective policies than others (in the United Kingdom, Japan, and Australia). It shows how public managers need to retain and develop their own IT expertise and to carefully maintain well-contested markets if they are to deliver value for money in their dealings with the very powerful global IT industry. This book describes how a critical aspect of the modern state is managed, or in some cases mismanaged.

This book brings together conceptual and empirical analyses of the evolving patterns of East Asian capitalism against the backdrop of global market integration and periodic economic crises since the 1980s. More specifically, it seeks to provide an interdisciplinary account of variations, continuities, or changes in institutional structures that govern financial systems, industrial relations, and product markets and shape the evolution of national political economies. The geographical focus of the volume is China, Japan, South Korea, Indonesia, the Philippines, Malaysia, Taiwan, and Thailand. In line with this analytical focus, the volume has three different yet interrelated objectives. First, building on extant comparative institutional analyses, it develops a typology of East Asian capitalism that can identify key institutional domains to be included in cross-national comparisons and establish the guiding principles for categorizing political economies across the region. Second, it provides an analytical framework to elucidate the nature and mode of institutional changes in East Asian countries over the past two decades. Finally, the volume advances theoretical propositions concerning the potential causes of these institutional changes. While particular chapters emphasize different causal variables, collectively they constitute a coherent effort to theorize the changing varieties of East Asian capitalism.