This paper explores the relationship between economic growth and the welfare state. We argue that: (i) the institutional constraints set by the international monetary system may be at least as effective determinants of growth differentials between countries as the different dimensions of their...

Since the early 1970s, the scope for national social and economic policy in advanced industrial societies has been constrained by three consecutive changes in the international political economy. These were: 1) the breakdown of the Bretton Woods currency regime of fixed exchange rates and the...

The capitalist welfare state achieved its full development within the nearly closed national economies of the early postwar decades. After the rampant protectionism following the Great Depression, and after the complete breakdown of world markets in World War II, the restoration of international...

The argument in this chapter is that formation of EMU is about restructuring the financial architecture of Europe in order to enhance-rather than simply diminish-national autonomy. By implication, EMU functions-at least in part-to shore up and insulate Europe's member states during a period of...

The capitalist welfare state achieved its full development within the nearly closed national economies of the early postwar decades. After the rampant protectionism following the Great Depression, and after the complete breakdown of world markets in World War II, the restoration of international...

This paper examines why policy-makers (experts in central banks, ministries of finance, employers' organizations and trade unions) of Britain, France, and Germany have accepted an 'asymmetrical' Economic and Monetary Union (EMU) which incorporates a developed monetary component, yet a relatively...

This paper examines why policy-makers (experts in central banks, ministries of finance, employers' organizations and trade unions) of Britain, France, and Germany have accepted an 'asymmetrical' Economic and Monetary Union (EMU) which incorporates a developed monetary component, yet a relatively...

The argument in this chapter is that formation of EMU is about restructuring the financial architecture of Europe in order to enhance-rather than simply diminish-national autonomy. By implication, EMU functions-at least in part-to shore up and insulate Europe's member states during a period of...