The many faces of capitalism in Europe

The model of capitalism emerging in Central and Southeast Europe is similar to the Southern European model. The region is so diverse, however, that a homogeneous regional model of the economy is unlikely to develop.

It has long been known that capitalism has many different variations. The French economics professor Bruno Amable, a lecturer at the University of Geneva, proved this in his book “The Diversity of Modern Capitalism”. In his opinion, there are at least five different models of capitalism:

• the Anglo-Saxon model (e.g. the United States, the United Kingdom);
• the social democratic / Scandinavian model (e.g. Sweden, Denmark);
• the continental European model (France, Germany);
• the Southern European model (e.g. Italy, Spain);
• the Asian model (e.g. Japan, South Korea).

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