Pepper D. Culpepper

David Finegold

In recent years the German economy has grown sluggishly and created few new jobs. These developments have led observers to question the future viability of a model that in the past seemed able to combine economic growth, competitiveness in export markets, and low social inequality. This volume brings together empirical and comparative research from across the social sciences to examine whether or not Germany's system of skill provision is still capable of meeting the economic and social challenges now facing all the advanced capitalist economies. At issue is the question of whether or not the celebrated German training system, an essential element of the high-skill, high-wage equilibrium, can continue to provide the skills necessary for German companies to hold their economic niche in a world characterized by increasing trade and financial interdependence. Combining an examination of the competitiveness of the German training system with an analysis of the robustness of the political institutions that support it, this volume seeks to understand the extent to which the German system for imparting craft skills can adjust to changes in the organization of production in the advanced industrial states.

Sustaining Comparative Advantage in a Global Economy

The German Skills Machine

Does democracy control business, or does business control democracy? This study of how companies are bought and sold in four countries - France, Germany, Japan, and the Netherlands - explores this fundamental question. It does so by examining variation in the rules of corporate control - specifically, whether hostile takeovers are allowed. Takeovers have high political stakes: they result in corporate reorganizations, layoffs, and the unraveling of compromises between workers and managers. But the public rarely pays attention to issues of corporate control. As a result, political parties and legislatures are largely absent from this domain. Instead, organized managers get to make the rules, quietly drawing on their superior lobbying capacity and the deference of legislators. These tools, not campaign donations, are the true founts of managerial political influence.

Corporate Control in Europe and Japan

Quiet Politics and Business Power

Does democracy control business, or does business control democracy? This study of how companies are bought and sold in four countries - France, Germany, Japan and the Netherlands - explores this fundamental question. It does so by examining variation in the rules of corporate control - specifically, whether hostile takeovers are allowed. Takeovers have high political stakes: they result in corporate reorganizations, layoffs and the unraveling of compromises between workers and managers. But the public rarely pays attention to issues of corporate control. As a result, political parties and legislatures are largely absent from this domain. Instead, organized managers get to make the rules, quietly drawing on their superior lobbying capacity and the deference of legislators. These tools, not campaign donations, are the true founts of managerial political influence.

Pepper D. Culpepper

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