Abstract
The evolution of biological species is influenced by two types of complementarities. One is related to the synergies among and within organisms, while the other is the outcome of conflicts among different species and among members of the same species. In both conflictual and synergic complementarities, the traits selected in one domain affect the traits selected in the other domain. However, synergies and conflicts involve different mechanisms and interact with each other to generate complex co-evolutionary dynamics. Socio-economic systems are characterized by similar complementarities. Whereas technology and property rights exhibit synergic complementarities, workers’ and capitalists’ organizations display conflictual complementarities. The evolution of different species of capitalism can be better understood in terms of both types of complementarities and by their interactions. The comparative history of the American and the European economies is used to illustrate how models of capitalism can diverge, building different types of institutional complementarities over time.
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