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Corporatism and the Ghost of the Third Way

Bibliographic Data

ID8246765
AuthorsRandall Morck (0000-0001-7412-0222, University of Alberta, corresponding author), Randall K Morck, Bernard Yeung (0000-0002-6902-863X, National University of Singapore)
Year2010
Volume5
Issue3
Publication date2010-01-14
Peer ReviewedYes
Open AccessNo
TypeARTICLE
VenueCapitalism and Society (JOURNAL)
Journal identifiersISSN: 1932-0213 • E-ISSN: 2194-6140
PublisherWalter de Gruyter GmbH (PUBLISHER • DE)
DOI10.2202/1932-0213.1076
OpenAlexW3121999182
LanguageEN
Citations received6
References cited74

An economic system called corporatism arose in the late 19th century, promoted by Anti-Cartesian French intellectuals dismayed with the "disenchantment of the world" Weber attributed to capitalism, and by a Roman Catholic church equally dismayed with both liberalism and socialism. Corporatism recognizes the innate inequality of human beings and their need for secure places in a legitimate hierarchy and thus puts the police power of the state behind officially sanctioned Corporations, elite-controlled industrial group cartels empowered to set wages, prices, employment, and quotas, to regulate entry, and to limit imports. Corporatism was to end the class struggle by guaranteeing workers their accustomed jobs and incomes and by delegating traditional authority through a principle of subsidiarity. We argue that countries that adopted corporatism most fully - those with Roman Catholic majorities or French-educated elites - experienced substantial financial development reversals and retain legacy Corporatist institutions that continue to retard financial development and growth

Corporatism · Political science · Politics · Banking stability, regulation, efficiency · Economic Theory and Institutions · Global Financial Crisis and Policies · Law

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Unique citing works6
Citations per year0,38
Citation span2010 - 2022 (13)
Citation velocityhistorical
Highly citedNo
Citation typesNeutral: 6
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