Rise of Neoliberalism and Institutional Analysis

John L. Campbell is Professor and Chair of Sociology at Dartmouth, Adjunct Professor in the University of Copenhagen's Institute of Political Science, and author of Collapse of an Industry. Ove K. Pedersen is Professor of Comparative Politics in the University of Copenhagen's Institute of Political Science. The author of several books, he is coeditor, with John Campbell, of Legacies of Change.

• List of Tables vii List of Figures ix Preface xi List of Contributors xiii Introduction 1. The Rise of Neoliberalism and Institutional Analysis by John L. Campbell and Ove K. Pedersen 1 PART I: RATIONAL CHOICE INSTITUTIONALISM 25 2. Explaining the Rise of Neoliberalism: The Mechanisms of Institutional Change by Jack Knight 27 3. Have We Overestimated the Effects of Neoliberalism and Globalization? Some Speculations on the Anomalous Stability of Taxes on Business by Edgar Kiser and Aaron Matthew Laing 51 PART II: HISTORICAL INSTITUTIONALISM 69 4. Institutions, Investment, and the Rise in Unemployment by Bruce Western 71 5. Institutionalizing Markets, or the Market for Institutions? Central Banks, Bankruptcy Law, and the Globalization of Financial Markets by Bruce G. Carruthers, Sarah L. Babb, and Terence C. Halliday 94 PART III: ORGANIZATIONAL INSTITUTIONALISM 127 6. Theorizing Legitimacy or Legitimating Theory? Neoliberal Discourse and HMO Policy, 1970-1989 by David Strang and Ellen M. Bradburn 129 7. Institutional Analysis and the Role of Ideas in Political Economy by John L. Campbell 159 PART IV: DISCURSIVE INSTITUTIONALISM 191 8. The "Crisis" of Keynesianism and the Rise of Neoliberalism in Britain: An Ideational Institutionalist Approach by Colin Hay 193 9. Translating Liberalization: Neoliberalism in the Danish Negotiated Economy by Peter Kjcer and Ove K. Pedersen 219 Conclusion 10. The Second Movement in Institutional Analysis by John L. Campbell and Ove K. Pedersen 249 Index 283

"This book is exceptionally lucid and well integrated. The substantive chapters are both tight and rigorous. The conclusion is a cognitively high-powered and synoptic tour de force that gives the volume great unity. The book exemplifies one of its central methodological claims—that a second movement in institutional analysis, based on discussion, even cooperation between analytic approaches, is underway. It demonstrates firmly and by means of myriad interesting details that there is indeed a great deal of middle ground between different approaches. Such common sense is welcome—and theoretically important."—John Hall, McGill University