Ben Ross Schneider Knihy

This book presents an analysis of Latin America's unique and persistent hierarchical capitalism, marked by multinational corporations, diversified business groups, and segmented labor markets with low skills. Over time, institutional complementarities have intertwined aspects of corporate governance and labor markets, fostering institutional resilience. Political systems have historically favored elites and insiders, reinforcing existing structures and complementarities. However, this form of capitalism has not led to increased productivity, quality jobs, or equitable development. The effectiveness of development strategies aimed at these goals hinges on addressing detrimental institutional complementarities. The work seeks to ignite a new discussion on capitalism in Latin America and connect it to broader comparative capitalism research globally. The structure includes three parts: the first outlines the theoretical framework, comparing hierarchical capitalism with other capitalist models; the second delves into business, labor, and institutional complementarities, examining corporate governance, multinational corporations, labor relations, and education; the third addresses politics, policy, and development strategies, exploring the influence of business group politics and potential pathways for change.