The state of poverty in the United States and Western Europe: five theoretical approaches seeking to explain the variance -- The challenge to America -- The historical experience -- Attitudes, beliefs, and values -- System differences as explanations -- The role of political elites -- The role...

This paper presents a synopsis of recent NBER studies of the history of corporate governance in Canada,China, France, Germany, Japan, India, Italy, the Netherlands, Sweden, the United Kingdom, and the United States. Together, the studies underscore the importance of path dependence, often as far...