The so-called “end of capitalism” debate is getting so commonplace that even the World Economic Forum, the major business conference held annually in Davos, Switzerland, got into the act when it devoted part of its 2012 conference to the subject of “The End of Capitalism–So What’s Next?” 4 What this question overlooks, of course, is that there is no one monolithic model of a capitalist system or a market economy.Īs Peter A. How do the structure and elements of institutional corruption differ in terms of market economy types and varieties of capitalism?
I would like to highlight four issues and questions that might lead to a more diverse understanding of institutional corruption as a research topic in this rise of “the rest” era. Safra Network Fellow (2014-2015) who specializes in corporate environmental and social responsibility issues in emerging economies (most notably in Sub-Saharan African and Asia-Pacific regions), the focus of my Network fellowship has been on the comparative institutional and economic dimensions of corruption. They can be as small in terms of population as Singapore (5.6 million) or as large as China (1.4 billion).Īs a business school academic and Edmond J. Building off the “rise of the West” scholarly discourse, 3 the rise of the “rest” provides a simple but elegant conceptual frame to understand institutional corruption in diverse cultural and institutional settings, which are often lumped together as “emerging markets” or “frontier economies.” The only common thing these emerging or frontier economies often share is that they are countries located outside of North America and the European Union. The phrase “the rise of ‘the rest,’” is borrowed from the title of a 2001 book 1 by the late Alice Amsden, Professor of Political Economics at Massachusetts Institute of Technology, and is also used by Fareed Zakaria in the 2009 paperback edition 2 of his 2008 book of a similar title.
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