Conclusion and Prospects

Abstract

What is the value of VoC theory? First of all, its value is analytically to put politico-economic diversity into a simplifying scheme of a few types. Secondly, and this is also politically relevant, it is good for demonstrating systematically that more than one successful institutional configuration of capitalism does exist, particularly that there are other than liberal routes to high employment, GDP growth and competitiveness. Its higher analytical level is an advantage of VoC theory as compared to predecessors and alternative, though empirically similar, models such as those of Anglo-Saxon vs Rhineland or of shareholder vs stakeholder capitalism. Another plus of VoC theory is its recognition of the systems character of political economies.