Atlantic capitalism versus Rhine capitalism in the European community |
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Authors: | Michael Hodges Stephen Woolcock |
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Affiliation: | 1. Senior Lecturer in International Relations , London School of Economics ,;2. Senior Research Fellow, European Programme , Royal Institute of International Affairs , |
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Abstract: | The advent of the Single European Market in 1993 has prompted a debate about the differences between the German social market economy and the British liberal market, and whether these can coexist. ‘Rhine Capitalism’ based on social solidarity will remain a source of competitive advantage through its emphasis on continuous development of labour skills and technology. Britain's ‘Atlantic Capitalism’ lacks such a framework for dialogue between government and producer interests, which will make the creation of a national competitiveness strategy to counter deindustrialisation problematic. At the European Community level, some regulatory framework similar to Germany's Ordnungspolitik will probably emerge to underpin the operation of the Single Market. |
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