Hampden-Turner and Trompenaars deduced that each of the seven cultures of capitalism that they studied - the United States, United Kingdom, France, Germany, Japan, Sweden, and the Netherlands - has unique cultural habits and traditions reflected in their economies and social systems.
For example, under the hyper-individualist brand of American-British capitalism, poverty is a sign of personal failure, idleness, and disgrace, the poor are culpable.
Such a reformist formula will hardly result in the overthrow of capitalism or the "withering away of the state.
2] It signals in addition the resolution of the challenge to capitalism on these multiple fronts.
Capitalism was ordinarily understood as the preferred path, but modernization theorists were most often political liberals who conceded that capitalism had costs and capitalist growth was difficult to achieve in less developed societies.
What made modernization theory so attractive during the first quarter century of the Cold War were three basic features: it provided scholars and policymakers with some genuine purchase on the very real and extremely dramatic social changes through which all societies seemed to be passing; it offered a relatively non-threatening reading of the conflict between capitalism and communism which nevertheless held our the prospect of the ultimate triumph of liberal capitalism; and, finally, in the hands of development experts it could be fashioned into a program of non-communist progress.
For Gray, though, the supposed economic failings of American-style capitalism are only the beginning.
In False Dawn, John Gray attempts to attack global capitalism at its intellectual roots.