Few discussions in modern social science have occupied as much attention as the changing nature of welfare states in Western societies. Gosta Esping-Andersen, one of the foremost contributors to current debates on this issue, here provides a new analysis of the character and role of welfare states in the functioning of contemporary advanced Western societies. Esping-Andersen distinguishes three major types of welfare state, connecting these with variations in the historical development of different Western countries. He argues that current economic processes, such as those moving toward a postindustrial order, are shaped not by autonomous market forces but by the nature of states and state differences. Fully informed by comparative materials, this book will have great appeal to all those working on issues of economic development and postindustrialism. Its audience will include students of sociology, economics, and politics."

The Three Worlds of Welfare Capitalism

The Myth of Travel Time Saving

This paper tests for real interest parity (RIRP) among the nineteen major OECD countries over the period 1978:Q2-1998:Q4. The econometric methods applied consist of combining the use of several unit root or stationarity tests designed for panels valid under cross-section dependence and presence of multiple structural breaks. Our results strongly support the fulfillment of the weak version of the RIRP for the studied period once dependence and structural breaks are accounted or.

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New Evidence of the Real Interest Rate Parity for OECD Countries Using Panel Unit Root Tests with Breaks

Two series of German bonds, issued in 1924 and 1930, traded on the London Stock Exchange throughout Hitler's 1933-45 regime in Germany. We isolate both structural breaks and turning points in these bond series. Major turning points follow Hider's reintroduction of conscription in 1935, the outbreak of war in 1939 and the D-Day invasion of June 1944. The German bonds' sustained downward trend after 1935 suggests that bondholders recognized the risks posed by Hitler's programme. Bond prices recovered during the war, however, and appear to have anticipated the overthrow of Hitler and the postwar settlement of foreign bondholders' claims. German bonds, even in peace time, were distinctly dubious investments, and the fact of war has entirely justified the distrust with which they have long been regarded.

German Debt Traded in London During the Second World War: A British Perspective on Hitler

The Great Depression spurred state ownership in Western capitalist countries. Germany was no exception; the last governments in the Weimar Republic took over firms in diverse sectors. Later, the Nazi regime transferred public ownership and public services to the private sector. In doing so, they went against the mainstream in the Western capitalistic countries, none of which systematically reprivatized firms during the 1930s. Privatization in Nazi Germany was also unique in transferring to private hands the production of public services previously delivered by government. Both the firms and the services transferred to private ownership belonged to diverse sectors. Privatization was part of an intentional policy with multiple objectives and was not ideologically driven. As has been usual in recent privatizations, particularly within the European Union, strong financial restrictions were a central motivation. In addition, privatization was used as a political tool to enhance support for the government and to reinforce support to the Nazi Party.

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Claude William Guillebaud

Papers

The economics of transport

The economic recovery of Germany from 1933 to the incorporation of Austria in March 1938

The social policy of Nazi Germany

An economic survey of the sisal industry of Tanganyika

The role of the arbitrator in industrial wage disputes