Varieties of Capitalism: The Institutional Foundations of Comparative Advantage is a book edited by political economists Peter A. Hall and David Soskice. In their sizable introductory chapter Hall and Soskice set out two distinct types of capitalist economies: liberal market economies (LME) (e.g., U.S., U.K., Canada, Australia, New Zealand, Ireland) and coordinated market economies (CME) (e.g. Germany, Japan, Sweden, Austria).
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