Capitalisms in Late Modernity

This article reviews neo-Weberian, neo-institutionalist economic, and neo-Marxian approaches to the analysis of capitalism in late modern societies. It argues that all make important contributions to the understanding of the increasing economic variability reported in capitalist societies. The approaches also may be profitably combined to assess the degree to which specific cases identified deviate in significant ways from current hegemonic patterns of capitalist development. Finally, consumption theory is assessed for its value in revising standard capitalist development theory.