Edited by Maria João Rodrigues
Chapter 11: In-depth Comment on the Varieties of Capitalism in the New Member States
11. In-depth comment on the varieties of capitalism in the new Member States Ádám Török The varieties of capitalism in the old Member States of the EU can be described correctly using the Amable typology, with its Anglo-Saxon (‘market-based economies’), Central European (the German-speaking part of Europe foremost), Southern European and Nordic types of capitalism. Maria João Rodrigues (see Chapter 8) rightly shows that the Eastern European transition countries are likely to embody a ﬁfth type of capitalist development even though their recent experience in this respect is only a decade and a half old. It is also true, however, that some of these countries, especially the Visegrad states (Poland, the Czech and Slovak republics and Hungary) as well as Slovenia had some experience with the Central European type of capitalist development prior to the Second World War. Due to more than 40 years of socialism in these countries, however, in most instances the reconstruction of market economy institutions had to start from scratch. Only the modestly liberal and more or less open Hungarian economy and the favourably located and also not centrally planned Slovenian economy were partial exceptions to this rule. By contrast, with them, most former Soviet republics (except for the three Baltic countries) did not have any real experience with capitalism, which is also reﬂected by their current economic and social models. In what follows, I focus on the Central European experience with ‘Eastern European capitalism’. The matrix-type scheme of types of...
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