In den Wirtschaftsstrukturen der Industrieländer vollzieht sich seit den neunziger Jahren ein tiefgreifender Umbruch. Veränderungen des globalen Faktorangebots, dynamische Entwicklungen in den internationalen Marktstrukturen, das Entstehen weltweiter Produktionsnetzwerke und technologische...

An Englishman once watched his first American football game. He looked intently as the team gathered into a huddle after each play. His American host asked him what he thought of the proceedings. "Not a bad sport", remarked the visitor, "but they do seem to engage in an excessive number of...

The inability to cope effectively with the legacy of the Soviet-type economy is compounded by autonomous policy errors. Apart from too nervous reactions to monthly changes in the inflation rate, the major mistake has been the timing and scale of tightening monetary policy. The sharp increases in...