Abstract
The success of West German, Scandinavian and Japanese economies, particularly when compared with lagging productivity and competitiveness of the U.S. and the U.K., have focused attention on comparative institutions in labour markets and corporate control. Declining unions and increasing reliance on competitive market pressures in the AngloAmerican countries contrast with more state intervention and regulation of the European social market economies. As noted by Henzler (1992,
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