Liberalisierungspolitik

Political-economic classics of different schools agreed that capitalism inherently and inevitably leads to a decline of market principles. We analyze indicators of liberalization policies for 21 OECD-countries in five economic and social policy fields and demonstrate that western industrialized countries are subject of a convergent trend towards market-creating policies??in stark contrast to the theoretical expectations of several political economy authors. At the latest during the first half of the eighties, the western democracies entered a new phase of economic liberalization, which continues up to the present. A methodological implication of our findings suggests that the methods of causal analysis of convergent liberalization policies may not be the same as those who have been applied for the analysis of development and consolidation of the varieties of capitalism in the postwar era.