The European Economy Since 1945

However, this inheritance of economic and social institutions that was the solution until around 1973--when Europe had to switch from growth based on brute-force investment and the acquisition of known technologies to growth based on increased efficiency and innovation--then became the problem.

In 1945, many Europeans still heated with coal, cooled their food with ice, and lacked indoor plumbing. Today, things could hardly be more different. Over the second half of the twentieth century, the average European's buying power tripled, while working hours fell by a third. The European Economy since 1945 is a broad, accessible, forthright account of the extraordinary development of Europe's economy since the end of World War II. Barry Eichengreen argues that the continent's history has been critical to its economic performance, and that it will continue to be so going forward. Challenging standard views that basic economic forces were behind postwar Europe's success, Eichengreen shows how Western Europe in particular inherited a set of institutions singularly well suited to the economic circumstances that reigned for almost three decades. Economic growth was facilitated by solidarity-centered trade unions, cohesive employers' associations, and growth-minded governments--all legacies of Europe's earlier history. For example, these institutions worked together to mobilize savings, finance investment, and stabilize wages. However, this inheritance of economic and social institutions that was the solution until around 1973--when Europe had to switch from growth based on brute-force investment and the acquisition of known technologies to growth based on increased efficiency and innovation--then became the problem. Thus, the key questions for the future are whether Europe and its constituent nations can now adapt their institutions to the needs of a globalized knowledge economy, and whether in doing so, the continent's distinctive history will be an obstacle or an asset.

Publisher description

Finalist for the Pulitzer Prize • Winner of the Council on Foreign Relations Arthur Ross Book Award • One of the New York Times' Ten Best Books of the Year “Impressive . . . Mr. Judt writes with enormous authority.” —The Wall Street Journal “Magisterial . . . It is, without a doubt, the most comprehensive, authoritative, and yes, readable postwar history.” —The Boston Globe Almost a decade in the making, this much-anticipated grand history of postwar Europe from one of the world's most esteemed historians and intellectuals is a singular achievement. Postwar is the first modern history that covers all of Europe, both east and west, drawing on research in six languages to sweep readers through thirty-four nations and sixty years of political and cultural change-all in one integrated, enthralling narrative. Both intellectually ambitious and compelling to read, thrilling in its scope and delightful in its small details, Postwar is a rare joy. Judt's book, Ill Fares the Land, republished in 2021 featuring a new preface by bestselling author of Between the World and Me and The Water Dancer, Ta-Nehisi Coates.

The European Economy Since 1914 provides an invaluable guide to the major economic changes in both Western and Eastern Europe during the twentieth century.

This compelling volume re-examines the topic of economic growth in Europe after the Second World War. The contributors approach the subject armed not only with new theoretical ideas, but also with the experience of the 1980s on which to draw. The analysis is based on both applied economics and on economic history. Thus, while the volume is greatly informed by insights from growth theory, emphasis is given to the presentation of chronological and institutional detail. The case study approach and the adoption of a longer-run perspective than is normal for economists allow new insights to be obtained. As well as including chapters that consider the experience of individual European countries, the book explores general European institutional arrangements and historical circumstances. The result is a genuinely comparative picture of post-war growth, with insights that do not emerge from standard cross-section regressions based on the post-1960 period.

The European Union faces a crossroads in the twenty-first century. While there is evidence of declining enthusiasm for European integration, the EU plays an increasingly vital role in tackling problems that can no longer be dealt with at member state level. In recent years, the EU has developed a stronger foreign, security and defence policy, and has had to face up to the challenges of tackling organised crime, human trafficking and drug smuggling. In this fully updated new edition, Alasdair Blair examines the economic, political, social and personal factors that have shaped the process of European integration from the end of the Second World War until the Lisbon Treaty in 2009. Written in a clear and jargon-free style, the book explores: The context of European integration and expansion The relations between the European Union and its member states The institutional evolution of the European Union Methods of decision-making Key policies of the European Union The future direction of the European Union Comprehensive and accessible, this book is an essential guide to understanding the relevance of the European Union in the twenty-first century.