As opposed to the common idea that a country's economic fortunes are largely determined by its success on world markets, Paul R. Krugman, Professor of Economics at the Massachusetts Institute of Technology, holds the view that the world's leading nations are not to any important degree in...

According to the memorandum entitled “Microelectronics 2000”, the Japanese and American lead in semi-conductor technology threatens not only the existence of a number of European firms but the prosperity of all the European economies. It therefore concludes that if Europe is not to be at the...