La natura e il funzionamento del capitalismo europeo: una prospettiva storica e comparativa
DOI:
https://doi.org/10.13133/2037-3651/9699Abstract
This paper provides quantitative intertemporal and international perspectives for assessing performance in 16 European capitalist countries. 1950-73 was a golden age due to enlightened policy and once-for-all opportunities. The subsequent productivity slowdown had elements of inevitability given Western Europe's closer proximity to the technological frontier and the slowdown in progress at the frontier (in the lead country -USA). However, the slowdown was aggravated by pursuit of secundary, irrelevant or irrational macropolicy goals, by microeconomic weddling and inflexible labour markets which have raised unemployment. East European transition has been hindered by Western Europe's obsession with is own integration.
JEL Codes: O11
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