The European Union and the United States operate different variants of market capitalism. The EU model uses social dialogue institutions to help determine economic outcomes, particularly in the labor market, whereas the US relies more on market forces. The theory of competitive markets provides...

The European Union and the United States operate different variants of market capitalism. The EU model uses social dialogue institutions to help determine economic outcomes, particularly in the labor market, whereas the US relies more on market forces. The theory of competitive markets provides...

[...]This paper examines the operation of the U.S. labor marketin the 2001 recovery. Because the United States is in the middleof the recovery, ours is a real-time analysis; thus, someconclusions could change if the recovery stalls or employmentgrows suddenly. For instance, since August 2003,...