Convergence by Conviction: Politics and Economics in the Emergence of the 'Anglo-American' Model

With the end of the Cold War and the effective collapse of the socialist alternative, the question of 'convergence' has been reopened. It is now reasonable to ask whether recent events have led to a convergence of modern societies around a model of liberal capitalist development. The essay begins with a brief discussion of the issue considered from a global perspective comparing social change within and between the advanced societies, developing societies and societies making the transition from socialism to capitalism. It then turns to a more detailed focus on the advanced societies and, in particular, to the emergence of an 'Anglo-American model' of a liberal market economy. Despite continuing differences in society and culture, evidence exists for a significant convergence in matters of economic and social policy, sectoral growth and decline, industrial relations and the structure and culture of business in the two nations.