Hierarchical Capitalism in Latin America

Business, Labor, and the Challenges of Equitable Development

Nonfiction, Social & Cultural Studies, Political Science, Social Science, Business & Finance
Cover of the book Hierarchical Capitalism in Latin America by Ben Ross Schneider, Cambridge University Press
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Author: Ben Ross Schneider ISBN: 9781107425460
Publisher: Cambridge University Press Publication: September 2, 2013
Imprint: Cambridge University Press Language: English
Author: Ben Ross Schneider
ISBN: 9781107425460
Publisher: Cambridge University Press
Publication: September 2, 2013
Imprint: Cambridge University Press
Language: English

This book argues that Latin America has a distinctive, enduring form of hierarchical capitalism characterized by multinational corporations, diversified business groups, low skills and segmented labor markets. Over time, institutional complementarities knit features of corporate governance and labor markets together and thus contribute to institutional resiliency. Political systems generally favored elites and insiders who further reinforced existing institutions and complementarities. Hierarchical capitalism has not promoted rising productivity, good jobs or equitable development, and the efficacy of development strategies to promote these outcomes depends on tackling negative institutional complementarities. This book is intended to open a new debate on the nature of capitalism in Latin America and link that discussion to related research on comparative capitalism in other parts of the world.

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This book argues that Latin America has a distinctive, enduring form of hierarchical capitalism characterized by multinational corporations, diversified business groups, low skills and segmented labor markets. Over time, institutional complementarities knit features of corporate governance and labor markets together and thus contribute to institutional resiliency. Political systems generally favored elites and insiders who further reinforced existing institutions and complementarities. Hierarchical capitalism has not promoted rising productivity, good jobs or equitable development, and the efficacy of development strategies to promote these outcomes depends on tackling negative institutional complementarities. This book is intended to open a new debate on the nature of capitalism in Latin America and link that discussion to related research on comparative capitalism in other parts of the world.

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