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The Euractiv story I link to in the introduction itself links to this interview in the Financial Times on January 18
"The Lisbon agenda identified the symptoms of Europe's malaise - lower growth, loss of competitiveness, widening technology gap - but misdiagnosed the disease," Mr González said.

"Europe suffers from an extraordinary corporate rigidity," he said. "And I am not only talking about the power of trade unions and labour rights. There is also enormous rigidity on the corporate side. You only have to compare the rankings of US and European companies now and 30 years ago. Most of the top US companies today were not around in the 1980s. There is a lot of mobility: it is a system that rewards risk, initiative and efficiency and allows companies to succeed as well as to fail.

"In Europe, there have been hardly any changes in the corporate rankings. Business, labour and political elites protect each other. We stifle innovation. That is why Europe has failed to produce a Bill Gates. It is a cultural problem." Mr González said.

There's more where that came from...


When the capital development of a country becomes a by-product of the activities of a casino, the job is likely to be ill-done. — John M. Keynes
by Carrie (migeru at eurotrib dot com) on Sat Jun 28th, 2008 at 10:16:26 AM EST
[ Parent ]
Seen here on ET in the Salon...

When the capital development of a country becomes a by-product of the activities of a casino, the job is likely to be ill-done. — John M. Keynes
by Carrie (migeru at eurotrib dot com) on Sat Jun 28th, 2008 at 10:22:00 AM EST
[ Parent ]
Europe has failed to produce a Bill Gates

Better not!

Sorry, but my impression is that Felipe got stuck in a lighter version of Third-Wayism.

*Lunatic*, n.
One whose delusions are out of fashion.

by DoDo on Tue Jul 1st, 2008 at 06:45:03 AM EST
[ Parent ]
In some ways, he did.

When the capital development of a country becomes a by-product of the activities of a casino, the job is likely to be ill-done. — John M. Keynes
by Carrie (migeru at eurotrib dot com) on Tue Jul 1st, 2008 at 06:47:50 AM EST
[ Parent ]

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