Western Europe. An important factor, recognized in the literature, is that China centralized state institutions very early on …, while Europe remained politically fragmented for much longer. These initial differences, however, were amplified by the … different social organizations (clans in China, corporate structures in Europe) that spread in these two societies at the turn …

In this paper I survey and reinterpret the extensive literature on Europe's Great Depression. I argue that Europe could … policies could be effective. -- Great Depression ; Europe ; coordination failure …