European Economy since 1945
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A01=Barry Eichengreen
Aftermath of World War II
Agriculture
Author_Barry Eichengreen
Bretton Woods system
Budget of the European Union
Capital control
Capitalism
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Central bank
Competitiveness
Currency
Current account
Customs union
Deutsche Bundesbank
Deutsche Mark
Devaluation
Eastern Europe
Economic growth
Economic liberalization
Economic planning
Economic recovery
Economics
Economy
Employment
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Eurocurrency Market
Eurodollar
European Bank for Reconstruction and Development
European Central Bank
European Coal and Steel Community
European Confederation
European Currency Unit
European Defence Community
European Economic Community
European Free Trade Association
European integration
European Investment Bank
European Monetary System
European System of Central Banks
European Union
European Union law
Eurosclerosis
Exchange rate
Federal Europe
Income
Industrialisation
Institution
Institutional investor
Interest rate
Keynesian economics
Keynesian Revolution
Liberalization
Marshall Plan
Measures of national income and output
Member state
Monetary policy
Monetary reform
Nationalization
Output (economics)
Payment
Price controls
Recession
Soviet Union
Subsidy
Supply (economics)
Tariff
Tax
Tax rate
Unemployment
Wage
Wassenaar Agreement
Western Europe
World War II
Product details
- ISBN 9780691138480
- Weight: 482g
- Dimensions: 152 x 235mm
- Publication Date: 21 Jul 2008
- Publisher: Princeton University Press
- Publication City/Country: US
- Product Form: Paperback
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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.
Barry Eichengreen is George C. Pardee and Helen N. Pardee Professor of Economics and Political Science at the University of California, Berkeley. His books include "Golden Fetters: The Gold Standard and the Great Depression, 1919-1939" and "Globalizing Capital: A History of the International Monetary System" (Princeton).
