Exposed hitherto to American teachings and
practices, the new members are forced to adhere to a whole different
rule book - all 82,000 pages of it.
European "capitalism" is really a hybrid of the socialist and liberal
teachings of the 19th century. It emphasizes consensus, community,
solidarity, equality, stability and continuity. It places these values
above profitability, entrepreneurship, competition, individualism,
mobility, size, litigation and the use of force. Europeans firmly
believe that the workings of the market should be tampered with and
that it is the responsibility of the state to see to it that no one
gets left behind or trampled upon.
European stakeholder capitalism is paternalistic and inclusive.
Employees, employers, the government, communities and suppliers are
partners in the decision making process or privies to it. Relics of
past models of the market economy still abound in this continent:
industrial policy, Keynesian government spending, development aid,
export and production subsidies, trade protectionism, the
state-sanctioned support of nascent and infant industries. Mild
corporatism is rife and manifest in central wage bargaining.
For some countries - notably Estonia - joining the EU would translate
into a de-liberalized and re-regulated future.
Pages:
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78