| Abstract: | The paper contributes to the sociological tradition of comparative institutional analysis. It argues that a distinctive form of capitalism is emerging in post 1989 Central and Eastern Europe, politicized managerial capitalism. This is a bifurcated system, one sub‐system internationally oriented, a still peripheral but increasingly integrated part of global capitalism, and a second sub‐system, more nationally oriented, dominated by managerial élites allied with weak states. Politicized managerial capitalism is founded upon the inherited practices of late Socialism, moulded by the post Socialist development process and congruent with the stage of development of capital, labour and product markets. It is unclear as to whether this is a transient or long‐term structure. |
