Comparative political economy has been transformed since
the end of the 1970s. The explanatory value of class conflict,
the power resources of social classes, and the social base of
particular national models of political economy have been
replaced by an emphasis upon the role of institutions in
explaining both how contemporary political economies func-
tion and their capacity to manage international economic
integration. The fruits of this institutional turn have now
emerged into a fully fledged new approach, as evidenced by
the volume under review, by Continuity and Change in
Contemporary Capitalism (edited by Herbert Kitschelt, Peter
Lange, Gary Marks, and John D. Stephens, 1999), and by a
forthcoming volume, Varieties of Capitalism, edited by Peter
Hall and David Soskice. These three books overlap to a great
degree in both theoretical approach and list of contributors.