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- W1131674239 abstract "One of the important themes in the new institutionalism is the convergence of market regulations in a worldwith three powerful clusters of countries (Western Europe, North America, and East Asia) on a small number ofregimes, like disorganized capitalism, free market capitalism, and coordinated market capitalism. This paperexamines the political-economic theory of regulatory convergence. It reconstructs and compares three welfaristapproaches: the optimal regulatory regime (Tinbergen), the rule of constitutional law (Buchanan), andregulatory rivalry (Hayek). The paper concludes that most plausible results of convergence theory arecompletely opposite to the expressed political intentions of the theorists. Tinbergen's theory predictsneoliberalism, not social democracy. The theories of Buchanan and Hayek predict respectively a consensual orspontaneous formation of corporatist regulations, not the return of classical constitutionalism or liberalism. Thepaper summons new institutionalists to repair the weak scientific elements of convergence theory and to make adistinction between the ideological origins of this theory and its unintended ideological consequences." @default.
- W1131674239 created "2016-06-24" @default.
- W1131674239 creator A5051068814 @default.
- W1131674239 date "1992-01-01" @default.
- W1131674239 modified "2023-09-27" @default.
- W1131674239 title "Is Regulatory Convergence Efficient? CES Germany & Europe Working Papers, No. 02.3, May 1992" @default.
- W1131674239 hasPublicationYear "1992" @default.
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