Inequality and Prosperity: Social Europe vs. Liberal America

What are the relative merits of the American and European socioeconomic systems? Long-standing debates have heated up in recent years with the expansion of the European Union and increasingly sharp political and cultural differences between the United States and Europe. In Inequality and Prosperity, Jonas Pontusson provides a comparative overview of the two major models of labor markets and welfare systems in the advanced industrial world: the "liberal capitalist" system of the United States and Britain and the "social market" capitalism of northern Europe. These two models balance concerns of efficiency and equity in fundamentally different ways. In the 1990s the much-heralded forces of globalization (together with demographic changes and attendant political pressures) seemed to threaten the very existence of the social-market economies of Europe. Were the social compacts of Sweden and Germany outmoded? Would varieties of capitalism remain possible, or were labor-market and social-welfare arrangements converging on the U.S. norm?

Pontusson opposes the notion of inevitable convergence: he believes that social-market economies can survive and indeed flourish in the contemporary world economy. He bases his argument on an enormous amount of highly specialized research on eighteen countries, using national-level data for the last thirty years. Among the areas he explores are labor-market dynamics, income distribution, employment performance, wage bargaining, firm-level performance, and the changing possibilities for the welfare state.

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Inequality and Prosperity: Social Europe vs. Liberal America

What are the relative merits of the American and European socioeconomic systems? Long-standing debates have heated up in recent years with the expansion of the European Union and increasingly sharp political and cultural differences between the United States and Europe. In Inequality and Prosperity, Jonas Pontusson provides a comparative overview of the two major models of labor markets and welfare systems in the advanced industrial world: the "liberal capitalist" system of the United States and Britain and the "social market" capitalism of northern Europe. These two models balance concerns of efficiency and equity in fundamentally different ways. In the 1990s the much-heralded forces of globalization (together with demographic changes and attendant political pressures) seemed to threaten the very existence of the social-market economies of Europe. Were the social compacts of Sweden and Germany outmoded? Would varieties of capitalism remain possible, or were labor-market and social-welfare arrangements converging on the U.S. norm?

Pontusson opposes the notion of inevitable convergence: he believes that social-market economies can survive and indeed flourish in the contemporary world economy. He bases his argument on an enormous amount of highly specialized research on eighteen countries, using national-level data for the last thirty years. Among the areas he explores are labor-market dynamics, income distribution, employment performance, wage bargaining, firm-level performance, and the changing possibilities for the welfare state.

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Inequality and Prosperity: Social Europe vs. Liberal America

Inequality and Prosperity: Social Europe vs. Liberal America

by Jonas Pontusson
Inequality and Prosperity: Social Europe vs. Liberal America

Inequality and Prosperity: Social Europe vs. Liberal America

by Jonas Pontusson

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Overview

What are the relative merits of the American and European socioeconomic systems? Long-standing debates have heated up in recent years with the expansion of the European Union and increasingly sharp political and cultural differences between the United States and Europe. In Inequality and Prosperity, Jonas Pontusson provides a comparative overview of the two major models of labor markets and welfare systems in the advanced industrial world: the "liberal capitalist" system of the United States and Britain and the "social market" capitalism of northern Europe. These two models balance concerns of efficiency and equity in fundamentally different ways. In the 1990s the much-heralded forces of globalization (together with demographic changes and attendant political pressures) seemed to threaten the very existence of the social-market economies of Europe. Were the social compacts of Sweden and Germany outmoded? Would varieties of capitalism remain possible, or were labor-market and social-welfare arrangements converging on the U.S. norm?

Pontusson opposes the notion of inevitable convergence: he believes that social-market economies can survive and indeed flourish in the contemporary world economy. He bases his argument on an enormous amount of highly specialized research on eighteen countries, using national-level data for the last thirty years. Among the areas he explores are labor-market dynamics, income distribution, employment performance, wage bargaining, firm-level performance, and the changing possibilities for the welfare state.


Product Details

ISBN-13: 9781501713774
Publisher: Cornell University Press
Publication date: 01/15/2006
Series: Cornell Studies in Political Economy
Sold by: Barnes & Noble
Format: eBook
Pages: 256
File size: 3 MB
Age Range: 18 Years

About the Author

Jonas Pontusson is Professor of Politics at Princeton University. He is the author of The Limits of Social Democracy, also from Cornell, and coeditor of Unions, Employers, and Central Banks.

Table of Contents

Introduction: Searching for the Brown Women

1. The Brown Family's Antislavery Culture, 1831–49

2. North Elba, Kansas, and Violent Antislavery

3. Annie Brown, Soldier

4. Newfound Celebrity in the John Brown Year

5. The Search for a New Life

6. Mary Brown's 1882 Tour and the Memory of Militant Abolitionism

7. Annie Brown Adams, the Last Survivor

Epilogue: The Last Echo from John Brown’s Grave

Acknowledgments
Notes
Bibliography
Index

What People are Saying About This

Vivien A. Schmidt

Jonas Pontusson makes a consistent and convincing argument against conventional wisdom that there is always a trade-off between equity and efficiency, showing that liberal market and social market economies face different challenges and must find different solutions to their problems. Most significant, however, he makes a very strong case that social market economies have a great many advantages over liberal market economies.

John Stephens

Jonas Pontusson's new book rates with the finest work in comparative political economy. He tackles the old question of the presumed trade-off between equality and economic growth with fresh ideas and a mass of data and compellingly demonstrates that the institutions of northern European social market economies can produce employment and growth without the inequality characteristic of Anglo-American liberal market economies.

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