The European Economy since 1945
Barry Eichengreen
Geisteswissenschaften, Kunst, Musik / Geschichte
Beschreibung
In 1945, many Europeans still heated with coal, cooled their food with ice, and lacked indoor plumbing. Today, things could hardly be more different. Over the second half of the twentieth century, the average European's buying power tripled, while working hours fell by a third. The European Economy since 1945 is a broad, accessible, forthright account of the extraordinary development of Europe's economy since the end of World War II. Barry Eichengreen argues that the continent's history has been critical to its economic performance, and that it will continue to be so going forward.
Challenging standard views that basic economic forces were behind postwar Europe's success, Eichengreen shows how Western Europe in particular inherited a set of institutions singularly well suited to the economic circumstances that reigned for almost three decades. Economic growth was facilitated by solidarity-centered trade unions, cohesive employers' associations, and growth-minded governments--all legacies of Europe's earlier history. For example, these institutions worked together to mobilize savings, finance investment, and stabilize wages.
However, this inheritance of economic and social institutions that was the solution until around 1973--when Europe had to switch from growth based on brute-force investment and the acquisition of known technologies to growth based on increased efficiency and innovation--then became the problem.
Thus, the key questions for the future are whether Europe and its constituent nations can now adapt their institutions to the needs of a globalized knowledge economy, and whether in doing so, the continent's distinctive history will be an obstacle or an asset.
Kundenbewertungen
European Monetary System, Tax rate, European Investment Bank, European System of Central Banks, Supply (economics), Federal Europe, Budget of the European Union, Customs union, European integration, Current account, Capitalism, Subsidy, Monetary reform, Aftermath of World War II, Bretton Woods system, Keynesian economics, Tax, Tariff, Wage, Economic recovery, Nationalization, Eastern Europe, Price controls, Soviet Union, World War II, Unemployment, Wassenaar Agreement, Capital control, Economic planning, Institutional investor, Central bank, European Economic Community, European Defence Community, European Central Bank, Economic liberalization, European Coal and Steel Community, Currency, European Currency Unit, Employment, Output (economics), European Union, Recession, Exchange rate, Economic growth, Income, Interest rate, Deutsche Bundesbank, European Union law, Member state, Monetary policy, European Bank for Reconstruction and Development, Institution, Competitiveness, Western Europe, Payment, Industrialisation, Measures of national income and output, Marshall Plan, European Free Trade Association, Deutsche Mark, Economics, Economy, Eurosclerosis, European Confederation, Eurodollar, Devaluation, Eurocurrency Market, Agriculture, Keynesian Revolution, Liberalization