Over the past decades foreign enterprises have gained competitive advantage over U.S. industrial corporations not by paying lower wages than American companies pay, Lazonick and O'Sullivan argue, but by developing and utilizing broader and deeper skill bases than American companies do. Since the...

The postwar system of corporate governance in Germany is being threatened by the failure of some industries to maintain their competitive position (with resulting significant job losses) and pressures for financial liquidity driven by those who have accumulated substantial financial holdings,...