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By Harm G. Schröter

One of many major good points of the area economic system because the past due 19th century has been the transforming into dominance of the yankee economic system in either quantitative and qualitative phrases. facets of this improvement - e.g. explanation or the world-wide diffusion of Coca-Cola - were researched, yet mostly in isolation. Americanization of the ecu financial system presents a complete but compact survey of the expansion of yank monetary impression in Europe because the Eighties. 3 specified yet cumulative waves of Americanization are pointed out. Americanization was once (and nonetheless is) a posh technique of technological, political, and cultural move, and this evaluate explains why and the way america and the yank version of commercial capitalism got here to be authorized because the dominant paradigm of political economic system in ultra-modern Europe. Americanization of the ecu economic system summarizes the continuing dialogue via company historians, sociologists, and political scientists and makes it available to all kinds of readers who're drawn to political and fiscal improvement.

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Indeed, France was perhaps the most outspoken critic of the American model in interwar Europe. The French automobile industry achieved great success following American production practices, but in the majority of French industry the application of managerial rationalization was less widespread than in most other countries. One hindrance was the continuing business confidence in the classical management theory of Henri Fayol. ”52 The French political and business elites rejected and even despised the implications—social, economic, political, and cultural—of the American model.

Siemens warned against an uncritical “Americanism”, a standardization and simplification that contradicted German individualism. Yet he also recognized that this individualism had unhealthy aspects which should be resisted in the areas of industrial production and consumption. The differentiated approach of Köttgen and Siemens was quite representative of European business attitudes. There were, of course, persons such as Hugo Prager, head of the first Swiss Rotary Club, who admired the USA without any trace of criticism.

In 1914, European business still basked in the conviction that it was Europe—with its culture, diplomacy, military and naval power, colonies, financial wealth, and global exports—that dominated the world. Who else but Europe itself could change that? Yet indeed Europeans were mad enough to dismantle their dominance, not by intention but by engaging in the disastrous war of 1914–1918. By 1914 the USA already was the world’s largest industrial nation in fact; its financial support of the Entente during the war-years transformed it from a debtor state into the world’s supreme creditor.

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