Mediterranean capitalism: a narrow path between the core Eurozone economies and the deregulated ones

Author/s Marino Regini
Publishing Year 2016 Issue 2016/143 Language Italian
Pages 19 P. 25-43 File size 130 KB
DOI 10.3280/SL2016-143002
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The Mediterranean economies are, on the one hand, peripheral in the management of the Eurozone; on the other, they are as densely regulated by political and social institutions as the core Eurozone economies. For this reason the Mediterranean model of capitalism displays a low degree of competitiveness compared to the hegemonic Continental model, but also when compared to more deregulated and cost-competitive economies such as the Eastern European and the Anglo-American ones. In the early ’90s, also the Nordic countries found themselves caught between those two roads to competitiveness that were unavailable to them, but their main solution was a strong investment in R&D and in innovation more generally. The Mediterranean countries, on the other hand, have been the laggards in the R&D investment; yet the author maintains that this is the only "narrow path" available to them to increase competitiveness and exit from the crisis.

Keywords: Capitalism, European social model, deregulated economies, economic crisis

Marino Regini, Capitalismo mediterraneo: la strada stretta fra economie forti dell’Eurozona ed economie deregolate in "SOCIOLOGIA DEL LAVORO " 143/2016, pp 25-43, DOI: 10.3280/SL2016-143002