- List of Figures
- List of Tables
- List of Contributors
- Institutional Perspectives—Working towards Coherence or Irreconcilable Diversity?
- Beyond Comparative Statics: Historical Institutional Approaches to Stability and Change In the Political Economy of Labor
- Actors and Institutions
- Institutional Reproduction and Change
- Qualitative Comparative Analysis of Social Science Data
- The State in the Economy: Neoliberal or Neoactivist?
- Money and Markets
- Transnational Institutions and International Regimes
- Law as a Governing Institution
- Institutional Change in Financial Systems
- The Comparative Institutional Analysis of Innovation: From Industrial Policy to the Knowledge Economy
- Changing Competition Models in Market Economies: The Effects of Inter‐nationalization, Technological Innovations, and Academic Expansion on the Conditions Supporting Dominant Economic Logics
- Institutions, Wealth, and Inequality
- Corporate Governance
- The Institutional Construction of Firms
- Institutionalizing the Employment Relationship
- Inter‐Firm Relations in Global Manufacturing: Disintegrated Production and Its Globalization
- Institutional Transformation in European Post‐Communist Regimes
- State Failure
- Financial Capitalism Resurgent: Comparative Institutionalism and the Challenges of Financialization
- Institutional Competitiveness: How Nations came to Compete
- Epilogue: Institutions in History: Bringing Capitalism Back In
Abstract and Keywords
Wealth and inequality are among the key macro-level outcomes studied by social scientists. They are of considerable interest not only to researchers, but also to citizens and policymakers. This article reviews and assesses theories and empirical findings on the impact of institutions on national wealth and inequality. It focuses on macro-comparative research on affluent countries. National wealth is typically measured as gross domestic product per capita. Prior to the 1970s, thinking about the determinants of national wealth was dominated by the approach used by mainstream economists. That approach focuses on capital, labour, and technology, and it assumes that poorer countries catch up with richer ones via factor equalization. In the 1950s and 1960s, patterns among the world's richest countries seemed to more or less conform to this expectation. But in the 1970s, a number of these countries experienced sharp economic downturns.
Lane Kenworthy is Professor of Sociology and Political Science at the University of Arizona.
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