Despite exporting more good and services than any other country in the world, economic growth in Germany has been slow through the nineties and the early twenty first century with low wage growth, rising unemployment and increasing public deficits. German unemployment was traditionally diagnosed as structural, neglecting macroeconomic causes of eco

The 2008 global financial crisis, together with the experience of de-industrialization across Western Europe over the last three decades, has focussed attention on financial regulation and industrial policy. Industry and finance policies have largely been discussed separately, and this book argues that the two should be considered together, in both analysis and policy formulation that deals with critical questions of how finance has intervened in industrial restructuring and how it might better serve the real economy. Moreover, policy debates have paid relatively little attention to the heterogeneous economic structures and growth trajectories of European economies, and the interconnectedness and interdependencies of growth paths that present specific challenges to policy and highlight the need for cooperation across the region. This book brings together leading scholars and policy makers to contribute to policy debates in three ways. First, it includes current discussions of banking policy, regulation, and reform to reassert the need for financial institutions that will back up and finance an industrial policy to revive the European economy. Second, it reviews the role of industrial and investment policy in supporting innovation, creating jobs, and generating sustainable economic growth. Third, it advances alternative policy proposals aimed at generating sustainable economic growth and employment in Europe. Part I analyses the nature of growth, industrial, and economic restructuring in relation to finance in the lead up to the crisis, at regional, national, and sector levels. Part II presents alternative and progressive policy proposals for growth and employment in Europe in light of the analysis presented in Part I.

This book is a Festschrift to Annamaria Simonazzi and embraces the themes that she has contributed to over the years through her insightful and inspiring works. It brings together contributions from a number of distinguished European economists, which pay tribute to her by engaging in a dialogue with her research, simultaneously reflecting on the process of growing economic disintegration in the European Union, its causes and its possible remedies. The book shows the deep interrelations between macroeconomic issues and the social sphere, and points to the need to rethink the very foundations of European economic policies as an effective antidote to growing imbalances and disintegration. In particular, the effects of austerity are assessed alongside the dimensions of inequality, gender discrimination, poverty, and unemployment, broadening the perspective also beyond the Eurozone. The authors envision a progressive society, in which investments in research and intelligent industrial policies govern the processes of technological change and drive the economy towards a more efficient and more equal model of development characterized by high productivity and high wages. While some chapters deal directly with policy issues, policy suggestions and proposals are scattered throughout the whole book. This volume will appeal to academics, economists, and policy-makers interested in understanding the policy response of European institutions to the challenges posed by both the Great Recession and subsequent developments in the European economies. The book is written in an engaging and accessible way, and the themes are broad enough to generate interest from the international public.

This volume brings together an international team of distinguished political and economic historians to take stock of earlier work on the origins and impact of the Marshall Plan, and reinterpret it in light of revolutionary upheavals in Central and Easter Europe.

Communism has collapsed. Capitalism has rid itself of the competition on which it thrives. But though now victorious, capitalism has become a threat. The future of us all may be shaped by the outcome of the conflict between capitalism as victor and capitalism as threat. Not only in Europe, but also in the US and Japan - and no doubt shortly in the Eastern countries too - the great debate is capitalism versus capitalism. On the one hand is the "neo-American" model based on individual achievement and short-term profits. On the other is the Rhine model practices in Switzerland, Germany, Benelux, Northern Europe and, partly, in Japan. In the Rhine model collective achievement and public concensus are seen as the keys to long-term success. The first is more seductive, the second more effective. These two opposing forms of capitalism are engaged in a war which, like all internal conflicts, involves both secrecy and even hypocrisy. The outcome of this struggle could affect the quality of life on all levels of society. The author of this book aims to provide a synthesis which will force the reader to consider the political and economic issues at stake towards the end of the century.

A FINANCIAL TIMES ECONOMICS BOOK OF THE YEAR 'Compulsively readable... An essential course in geopolitical self-help' - Adam Tooze 'Full of fresh - and often surprising - ideas' - Niall Ferguson 'Extraordinary... One of those rare books that defines the terms of our conversation about our times' - Michael Ignatieff We thought connecting the world would bring lasting peace. Instead, it is driving us apart. In the three decades since the end of the Cold War, global leaders have been integrating the world's economy, transport and communications, breaking down borders in the hope of making war impossible. In doing so, they have unwittingly created a formidable arsenal of weapons for new kinds of conflict and the motivation to keep fighting. Rising tensions in global politics are not a bump in the road - they are part of the paving. Troublingly, we are now seeing rising conflict at every level, from individuals on social media all the way up to nation-states in entrenched stand-offs. The past decade has seen a new antagonism between the US and China; an inability to co-operate on global issues such as climate change or pandemic response; and a breakdown in the distinction between war and peace, as overseas troops are replaced by sanctions, cyberwar, and the threat of large migrant flows. As a leading authority on international relations, Mark Leonard has been inside many of the rooms where our futures, at every level of society, are being decided - from the Facebook HQ and facial recognition labs in China to meetings in presidential palaces and at remote military installations. In seeking to understand the ways that globalisation has broken its fundamental promise to make our world safer and more prosperous, Leonard explores how we might wrest a more hopeful future from an age of unpeace.