A 'BICS'-Variety of Capitalism?
The Emergence of State-Permeated Market Economies in Large Emerging Countries
Since 2012 we are researching the variety(-ies) of capitalism of emerging econmies, especially Brazil, India, China and South Africa (BICS). We critically claim that, beyond all national and historical particularities, a distinct type of capitalism emerges which has by now only insufficiently researched. Our goal is to identify the contemporary capitalism beyond the centers. Therefore, we put ourselves in critical distance to existing typologies which are too strongly leaned towards the "success stories" of the North. Instead, what we are finding in the BICS can be adequately characterized as state-permeated market economies.