| Author: | Toniolo, G. |
| Title: | Europe's golden age, 1950-1973: speculations from a long-run perspective |
| Journal: | Economic History Review
1998 : MAY, VOL. 51:2, p. 252-266 |
| Index terms: | ECONOMICS HISTORY EUROPE |
| Language: | eng |
| Abstract: | Between the American civil war and the Second World War, Europe continuously lost ground to the United States as leader in technology. Between 1950 and the early 1970s the trend was dramatically reversed. The article speculates on the long-run reasons for Europe's catching-up. They are found in favourable ratios of physical to human capital, in matching of the prevailing technology with demand patterns, in the solution to long-standing stability and legitimation problems, in the adaptation and strengthening of co-operative institutions. |
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