The End of Diversity?: Prospects for German and Japanese Capitalism (Cornell Studies in Political Economy)

Following the Second World War, Germany and Japan embarked on creating unique forms of capitalism, distinct from the Anglo-American model yet fully integrated with the U.S. side in the new bi-polar world.... This series of insightful studies of the two models-edited by noted Japanese and German academics-offers ten chapters explaining and contrasting the two paths to economic development taken by the defeated powers. The timing of the publication is also prescient given the deep and lasting performance crisis in both countries.

The eleven chapters of this book offer in-depth analyses of the various economic, financial and social aspects of the ongoing transformation of German and Japanese capitalism from which it must be concluded that a number of changes are inevitable. It also emerges, however, that the embedded capitalism of the German and Japanese kinds had, and continue to have, their strong points.... While this book concentrates on comparing and contrasting Japanese and German capitalism with Anglo-American capitalism, it should not be overlooked (and is not overlooked by its authors) that, notwithstanding a number of striking parallels, the German and Japanese models also differ from each other. Elucidating the characteristics of these two varieties of capitalism is but one of the merits of this well-argued book.

The End of Diversity? asks one of the most important questions of our day. In the face of globalization, is it possible to maintain forms of capitalism that minimize poverty while maintaining high standards of living?.... The book deserves to be widely read, not only by those interested in Germany and Japan, but anyone interested in thinking about how capitalism does and can work. The chapters are quite readable and throughout show the connections between society, economy and politics. The book could be readily used in a class for advanced undergraduates.

'Persistence of many capitalisms' is the key message of this admirably lucid, forceful, and most timely volume by a formidable hybrid team. This is a very well-argued book on divergent capitalisms amidst the seemingly irresistible sway of the globe-flattening Anglo-Saxon market capitalism.