Globalization, Technological Change and Labor Markets is an edited collection of papers drawn from the conference held at the American Institute for Contemporary German Studies in June 1997. This conference brought German and American perspectives to bear on the complex issues of global competition, technological change, and labor markets in the welfare state. The contributions are organized into five sections dealing with various aspects of the problem: (1) Macroeconomic Perspectives; (2) Microeconomic Aspects; (3) the German Model of Labor Relations; (4) the Social Market Economy; and (5) Trade Policy and Environmental and Labor Standards. This edited collection seeks to explore many of the key issues surrounding the debate over the impact of globalization and technological change on labor markets in Europe and the United States. This volume provides path-breaking insights as to why globalization has wreaked havoc on the welfare states that had once propelled Western Europe and North America to an unprecedented standard of living throughout the post-war period. The high level of scholarship contained in the individual chapters forms a compelling argument that will convince even the most resistant skeptics that the days of the classic welfare state are numbered. More importantly, this book is filled with concrete suggestions based on careful economic analysis as to how technological change and globalization can be harnessed in conjunction with a new role of the state to provide a high standard of living.' David B. Audretsch, Ameritech Chair of Economic Development, Indiana University

This book consists of a set of conversations with Edward M. Bernstein, whose life has taken him from his student days at Chicago to his present-day role as an active analyst of monetary affairs. It provides his accounts of the Bretton Woods Conference, including its preparations, and aftermath.

This book consists of a set of conversations with Edward Bernstein, whose long life has taken him from his student days at Chicago and Harvard in the 1920s to his present-day role, at the age of 86, as an active analyst of monetary affairs. In between, he has been a college professor, principal economist at the Treasury Department during World War

swollen with deutschemarks and yen newly created to purchase unwanted dollars from the markets. When the Bundesbank and the Bank of Japan began to raise their interest rates to slow domestic monetary expansion, the fabric of international monetary cooperation began to unravel. Amid charge and counter-charge by disgruntled fmance ministers, the dollar dropped further and interest rates jumped upward, leading to panic in the stock market on Black Monday. Fortunately, a steady hand and generous supply of credit from the Federal Reserve System prevented massive bankruptcies among Wall Street brokerage houses and a collapse of the credit system. But the world-wide reverberations of the Wall Street crash exposed the underlying weaknesses of an economy based on foreign borrowing for all to see. Furthermore, the banking system is saddled with mountains of bad debts from the Third World and depressed parts of the American economy. A new Administration entering office in 1989 must deal with these problems, among others. Businesses and state and local governments need to know whether to focus their efforts on tax policy, investment, and improvements in education and worker training, or lobbying for protection from imports. The papers in this volume were chosen to explain the causes of present competitive problems in American industry and the factors that can lead to their gradual solution.

Globalization, Technological Change and Labor Markets is an edited collection of papers drawn from the conference held at the American Institute for Contemporary German Studies in June 1997. This conference brought German and American perspectives to bear on the complex issues of global competition, technological change, and labor markets in the welfare state. The contributions are organized into five sections dealing with various aspects of the problem: (1) Macroeconomic Perspectives; (2) Microeconomic Aspects; (3) the German Model of Labor Relations; (4) the Social Market Economy; and (5) Trade Policy and Environmental and Labor Standards. This edited collection seeks to explore many of the key issues surrounding the debate over the impact of globalization and technological change on labor markets in Europe and the United States. `This volume provides path-breaking insights as to why globalization has wreaked havoc on the welfare states that had once propelled Western Europe and North America to an unprecedented standard of living throughout the post-war period. The high level of scholarship contained in the individual chapters forms a compelling argument that will convince even the most resistant skeptics that the days of the classic welfare state are numbered. More importantly, this book is filled with concrete suggestions based on careful economic analysis as to how technological change and globalization can be harnessed in conjunction with a new role of the state to provide a high standard of living.' David B. Audretsch, Ameritech Chair of Economic Development, Indiana University

swollen with deutschemarks and yen newly created to purchase unwanted dollars from the markets. When the Bundesbank and the Bank of Japan began to raise their interest rates to slow domestic monetary expansion, the fabric of international monetary cooperation began to unravel. Amid charge and counter-charge by disgruntled fmance ministers, the dollar dropped further and interest rates jumped upward, leading to panic in the stock market on Black Monday. Fortunately, a steady hand and generous supply of credit from the Federal Reserve System prevented massive bankruptcies among Wall Street brokerage houses and a collapse of the credit system. But the world-wide reverberations of the Wall Street crash exposed the underlying weaknesses of an economy based on foreign borrowing for all to see. Furthermore, the banking system is saddled with mountains of bad debts from the Third World and depressed parts of the American economy. A new Administration entering office in 1989 must deal with these problems, among others. Businesses and state and local governments need to know whether to focus their efforts on tax policy, investment, and improvements in education and worker training, or lobbying for protection from imports. The papers in this volume were chosen to explain the causes of present competitive problems in American industry and the factors that can lead to their gradual solution.

In their transition from the legacy of Communism, Central and Eastern European countries (CEECs) are seeking to reduce the income gap that remains the major barrier to full European integration. The essays in this 1997 volume derive from a conference held at the American Institute for Contemporary German Studies in Washington DC, on May 15-16 1995, and present general equilibrium calculations of the world wide effects of trade liberalization between CEECs and the European Union (EU) on real wages and welfare; analysis of trade in 'sensitive' sectors; and measurement of Germany's role in the transition. Simulations analyse the effects of CEEC macroeconomic policies on the transition process. Other essays examine the effects of privatization, labour migration from the East, and alternative approaches to integration of CEECs into the EU, including quick entry, variable geometry and free trade area. Economists and policy-makers will value the collection's innovative quantitative assessments and presentation of distinct alternatives.

In their transition from the legacy of Communism, Central and Eastern European countries (CEECs) are seeking to reduce the income gap that remains the major barrier to full European integration. The essays in this 1997 volume derive from a conference held at the American Institute for Contemporary German Studies in Washington DC, on May 15-16 1995, and present general equilibrium calculations of the world wide effects of trade liberalization between CEECs and the European Union (EU) on real wages and welfare; analysis of trade in 'sensitive' sectors; and measurement of Germany's role in the transition. Simulations analyse the effects of CEEC macroeconomic policies on the transition process. Other essays examine the effects of privatization, labour migration from the East, and alternative approaches to integration of CEECs into the EU, including quick entry, variable geometry and free trade area. Economists and policy-makers will value the collection's innovative quantitative assessments and presentation of distinct alternatives.