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By Harm G. Schröter

One of many major beneficial properties of the area financial system because the past due 19th century has been the transforming into dominance of the yankee economic climate in either quantitative and qualitative phrases. facets of this improvement - e.g. clarification or the world-wide diffusion of Coca-Cola - were researched, yet mostly in isolation. Americanization of the ecu financial system offers a accomplished but compact survey of the expansion of yankee financial impression in Europe because the Eighties. 3 targeted yet cumulative waves of Americanization are pointed out. Americanization was once (and nonetheless is) a fancy technique of technological, political, and cultural move, and this evaluation explains why and the way the us and the yankee version of business capitalism got here to be approved because the dominant paradigm of political financial system in state-of-the-art Europe. Americanization of the eu financial system summarizes the continued dialogue by means of enterprise historians, sociologists, and political scientists and makes it obtainable to every kind of readers who're attracted to political and financial improvement.

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When Adolph Zukor bought up 25 German films during the 1920s to keep them off the US market, Ufa could not retaliate. In 1925 Ufa was in financial trouble, and in order to obtain a loan, it was forced to sign an agreement—the Parufamet Treaty— with Paramount and MGM. Ufa was thereby required to show annually 25 films made by the two American partners in return for their distributing 10 Ufa films per year. The emergence of the talking film in the late 1920s might have reversed the situation. The French film company Gaumont had demonstrated talking films and equipment since the 1910s, but technical quality of its system was inadequate for ordinary commercial use.

Industrialists stressed the homogeneous domestic market, relatively low taxes and the willingness of the American worker to submit to higher labour intensity. Trade unionists pointed out to the FORDISM AND TAYLORISM COME TO EUROPE 27 high wages and the high purchasing power of the American worker. ”50 An institution for time-and-motion studies (REFA) was set up, which in due time advised nearly all major firms and bureaucratic institutions in the country on the organization of working procedures.

In many cases indigenous industry was afraid of, or at least concerned about, the increased competition that FDI implied. For example, the German electrical-equipment giant Siemens & Halske competed with ITT both in and outside Germany. It was therefore extremely embarrassed when ITT acquired operations inside Germany and in this way “invaded” Siemens’ own backyard. Especially during the hyper-inflation of the early 1920s, industry in central and eastern Europe feared hostile takeovers by foreigners.

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