Americanization of the European Economy: A compact survey of by Harm G. Schröter (auth.)

By Harm G. Schröter (auth.)

One of the most good points of the realm financial system because the overdue 19th century has been the transforming into dominance of the yankee financial system in either quantitative and qualitative phrases. features of this improvement - e.g. clarification or the world-wide diffusion of Coca-Cola - were researched, yet mostly in isolation. Americanization of the ecu economic climate provides a entire but compact survey of the expansion of yankee financial effect in Europe because the Eighties. 3 precise yet cumulative waves of Americanization are pointed out. Americanization was once (and nonetheless is) a posh means of technological, political, and cultural move, and this evaluate explains why and the way the us and the yankee version of business capitalism got here to be authorised because the dominant paradigm of political economic system in state-of-the-art Europe.

Americanization of the ecu economic climate summarizes the continued dialogue by means of company historians, sociologists, and political scientists and makes it obtainable to all kinds of readers who're drawn to political and monetary development.

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42 As Hoover had feared, American FDI concentrated on production facilities in manufacturing and the oil sector. It thus enabled European business to experience and learn from American practices within their own countries. But these chances were unevenly distributed. Thirty-five per cent of interwar American FDI went to the UK, 18 per cent to Germany, and 11 per cent to France; all others each received less than 5 per cent. The concentration becomes even more striking when we look at the distribution by industrial branch.

Especially two aspects of big business were emphasized: the sheer size of individual enterprises, and their superior productivity. FORDISM AND TAYLORISM COME TO EUROPE 23 The first aspect—large-scale enterprise—was quickly adopted in many European economies. Both political and economic leaders in individual countries undertook to organize national champions: industrial giants that would safeguard the country’s trading position in a particular product or group of products and collectively uphold the economic independence of the country.

There were, of course, persons such as Hugo Prager, head of the first Swiss Rotary Club, who admired the USA without any trace of criticism. ”51 Such persons were willing to learn from America, to be sure, but not too much. And they refused to recognize that rationalization, once applied, would not only increase economic productivity, but inevitably would also change social and cultural habits at the same time. A special variant of scientific management was the Bedaux-system. Charles Eugène Bedaux was a Frenchman who emigrated to the United States in 1906.

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