Institutional Change in Advanced Political Economies

Abstract The political‐economic institutions that have traditionally reconciled economic efficiency with social solidarity in the advanced industrial countries, and specifically in the so‐called ‘coordinated market economies’, are indisputably under pressure today. However, scholars disagree on the trajectory and significance of the institutional changes we can observe in many of these countries, and they generally lack the conceptual tools that would be necessary to resolve these disagreements. This article attempts to break through this theoretical impasse by providing a framework for determining the direction, identifying the mode, and assessing the meaning of the changes we can observe in levels of both…