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The Soviet Union's dramatic collapse in 1989 was a pivotal moment in the complex history of Central and Eastern Europe, and Ivan Berend here offers a magisterial new account of the dramatic transformation that culminated in ten former Soviet Bloc countries joining the European Union. Taking the OPEC oil crisis of 1973 as his starting point, he charts the gradual unravelling of state socialism in Central and Eastern Europe, its ultimate collapse in the revolutions of 1989, and the economic restructuring and lasting changes in income, employment, welfare, education and social structure which followed. He pays particular attention to the crucial role of the European Union as well as the social and economic hurdles that continue to face former Eastern-bloc nations as they try to catch up with their Western neighbours. This will be essential reading for scholars and students of European and economic history, European politics and economics.

This book analyzes the European Great Recession of 2008-12, its economic and social causes, its historical roots, and the policies adopted by the European Union to find a way out of it. It contains explicit debates with several economists and analysts on some of the most controversial questions about the causes of the crisis and the policies applied by the European Union. It presents the cases of Iceland, Greece and Ireland, the countries that first declined into crisis in Europe, each of them in a different way. Iceland is a case study for reckless banking practices, Greece of reckless public spending, and Ireland of reckless household indebtedness. At least seven other countries, mostly from the peripheries of Europe, had similarly reckless banking and spending practices. In the center of the book are the economic and social causes of the crisis. Contemporary advanced capitalism became financialized, de-industrialized and globalized and got rid of the \"straitjacket\" of regulations. Solid banking was replaced by high-risk, \"casino-type\" activity. The European common currency also had a structural problem - monetary unification without a federal state and fiscal unification. The other side of the same coin is European hyper-consumerism. A new lifestyle emerged during two super-prosperous periods in the 1950s to 1960s, and during the 1990s to 2006. Trying to find an exit policy, the European Union turned to strict austerity measures to curb the budget deficit and indebtedness. This book critically analyzes the debate around austerity policy. The creation of important supra-national institutions, and of a financial supervisory authority and stability mechanisms, strengthens integration. The correction of the euro's structural mistake by creating a quasi-fiscal unification is even more important. The introduction of mandatory fiscal rules and their supervision promises a long-term solution for a well-functioning co

The last two centuries have been the scene of dramatic change throughout Europe. And one of the main causes of these tremendous and spectacular changes was the economy. These transformations were achieved by people: scientists and political thinkers, inventors and entrepreneurs, educators, skilled and educated workers. Who not only invented machines and computers, but were able to renew economic and political systems. This volume, therefore, presents a new approach to the period by looking at case studies to understand how these changes came about and the impact they had on modern Europe. Ivan Berend presents the spectacular history of modern European economy as a chain of \"small\" events, actions, and the ideas of individuals, as the influence of institutions and bold entrepreneurs. The essays are grouped into six chapters and discuss the power of entrepreneurship; the power of institutions; economic regimes and the permanent renewal of capitalism; the power of ideas and inventions; pioneering companies; from the rise of industrial cities to post-industrial suburbanization; bubbles, great depressions and economic cycles. All of the single episodes and personal stories offer a cross-section of the complex and interrelated history of modern Europe. Case Studies on Modern European Economy will be essential reading for students of economic and modern European history.

Deals with the intersection of issues associated with globalization and the dynamics of core-periphery relations. It places these debates in a large and vital context asking what the relations between cores and peripheries have in forming our vision of what constitutes globalization and what were and are its possible effects. In this sense the debate on globalization is framed as part of a larger and more crucial discourse that tries to account for the essential dynamics-economic, social, political and cultural-between metropolitan areas and their peripheries.

The last two centuries have been the scene of dramatic change throughout Europe. And one of the main causes of these tremendous and spectacular changes was the economy. These transformations were achieved by people: scientists and political thinkers, inventors and entrepreneurs, educators, skilled and educated workers. Who not only invented machines and computers, but were able to renew economic and political systems. This volume, therefore, presents a new approach to the period by looking at case studies to understand how these changes came about and the impact they had on modern Europe. Ivan Berend presents the spectacular history of modern European economy as a chain of \"small\" events, actions, and the ideas of individuals, as the influence of institutions and bold entrepreneurs. The essays are grouped into six chapters and discuss the power of entrepreneurship; the power of institutions; economic regimes and the permanent renewal of capitalism; the power of ideas and inventions; pioneering companies; from the rise of industrial cities to post-industrial suburbanization; bubbles, great depressions and economic cycles. All of the single episodes and personal stories offer a cross-section of the complex and interrelated history of modern Europe. Case Studies on Modern European Economy will be essential reading for students of economic and modern European history. Preface. Introduction. 1. The Power of Entrepreneurship 2. The Power of Institutions: Economic Regimes and the Permanent Renewal of Capitalism 3. The Power of Ideas and Inventions 4. Pioneering Companies 5. From the Rise of Industrial Cities to Post-Industrial Suburbanization 6. Bubbles, Great Depressions: Economic Cycles Ivan Berend’s work in economic history generally and in the economic history of Eastern Europe in particular is well known for its depth and range, and (concomitantly) for the contribution it has made, over many years, to our understanding of economic, social and political modernity. In this unusual collection of case studies, the culmination of many years of research and intellectual exploration, he has achieved something of a tour de force through a combination of analytical sweep and impressive empirical focus. He has joined a dynamic framework, which lays out the economic evolution of the European continent, with an extraordinary spread and wealth of illustrative (and detailed) case studies of people, trends and structures. The use of information, while abundant, is measured, relevant, and continuously stimulating. The result is a stimulating advance in our understanding of major forces in history at the level of those who fostered and experienced them. He has placed established scholars as well as university students in his debt. - Barry Supple , University of Cambridge, UK