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The nature and functioning of European capitalism: a historical and comparative perspective

Author

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  • A. MADDISON

    (Chevincourt (France))

Abstract

The work provides quantitative inter-temporal and international perspectives for assessing performance in 16 European capitalist countries, and examines the forces which have shaped their development. From a historical perspective, the author looks back over the five main phases of the modern capitalist era since 1820, and contrasts their experience with that of the United States and Eastern Europe. Some distinctive features of European capitalism which have influenced its performance are outlined. Changes in Western policy and performance form 1820 to 1973 are then dealt with before the latest phase of development from 1973 to 1996 is analysed in detail. Finally, recent developments in Eastern Europe are assessed and some conclusions regarding the major policy problems facing capitalist countries are reached.

Suggested Citation

  • A. Maddison, 1997. "The nature and functioning of European capitalism: a historical and comparative perspective," Banca Nazionale del Lavoro Quarterly Review, Banca Nazionale del Lavoro, vol. 50(203), pages 431-479.
    • Handle: RePEc:psl:bnlqrr:1997:42
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    File URL: http://ojs.uniroma1.it/index.php/PSLQuarterlyReview/article/view/10584/10468
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    References listed on IDEAS

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    1. repec:oup:ecpoli:v:12:y:1997:i:24:p:125-176 is not listed on IDEAS
    2. Siebert, Horst, 1997. "Labor market rigidities and unemployment in Europe," Kiel Working Papers 787, Kiel Institute for the World Economy (IfW).
    3. Ehrlich, Eva, 1985. "The size structure of manufacturing establishments and enterprises: An international comparison," Journal of Comparative Economics, Elsevier, vol. 9(3), pages 267-295, September.
    4. Horst Siebert, 1997. "Labor Market Rigidities: At the Root of Unemployment in Europe," Journal of Economic Perspectives, American Economic Association, vol. 11(3), pages 37-54, Summer.
    5. Ark, Bart van, "undated". "International comparisons of output and productivity: manufacturing productivity performance of ten countries from 1950 to 1990," GGDC Research Memorandum No.1, Groningen Growth and Development Centre, University of Groningen.
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    Cited by:

    1. Crafts, Nicholas, 1999. "Quantitative economic history," Economic History Working Papers 22390, London School of Economics and Political Science, Department of Economic History.
    2. Skott, Peter & Auerbach, Paul, 2003. "Wage inequality and skill asymmetries," Economics Discussion Papers 2003-7, School of Economics, Kingston University London.

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    More about this item

    Keywords

    European capitalism; capitalist performance; European economic history;
    All these keywords.

    JEL classification:

    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • P1 - Economic Systems - - Capitalist Systems

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